The Joplin Globe, Joplin, MO

December 19, 2012

Joplin home builder celebrates tax-credit project

By Debby Woodin

JOPLIN, Mo. — Last year’s tornado nearly wiped out the Red-Wood Development Co.

That is one reason that turning the keys over Wednesday to the owner of a new home built by the company was a special occasion for both Red-Wood and the buyer, Tara Atherton.

“This is a very special for us at the company,” owner Rick Schroeder said at an open house and ribbon-cutting ceremony  held at 2527 Grand Ave. “Our company was devastated by the tornado. We lost our home office and 90 percent of our properties.”

In the time since the May 22, 2011, tragedy, Red-Wood has rebuilt three complexes totaling 288 apartments, erected a 120-unit apartment complex at Webb City called The Plaza, built 120 houeses and six duplexes.

The Atherton house is the seventh of 38 houses the company is constructing as an affordable housing project it calls Union City Homes within the tornado zone. It is one of the housing projects financed with a portion of $100 million in tax credits awarded a year ago by the Missouri Housing Development Commission to Joplin as part of the disaster aid designated by Gov. Jay Nixon.

One tax-credit project has been finished and six others are under construction in Joplin and Webb City.