$12.6M senior housing development coming to Montgomery

$12.6M senior housing development coming to Montgomery

MONTGOMERY, Ala. (WSFA) - New life is being breathed into a vacant site on Montgomery’s Country Club Drive, and when it’s finished, it will provide housing for seniors, as well as veterans and those with disabilities.

Country Club Estates is a $12.6 million project, according to its developers.

It will provide 62 new one-and two-bedroom apartments for seniors, along with special set-asides for veterans and those with disabilities

Country Club Estates is a partnership between nonprofit developers Gulf Coast Housing Partnership and Volunteers of America Southeast.

A groundbreaking ceremony is planned for Wednesday and will include members of the Montgomery City Council, as well as developing and volunteers.

The development is financed with an Alabama Housing Financing Agency tax credit allocation, lending through NeighborWorks Capital, a capital contribution from Volunteers of America Southeast, equity investments through Stratford Capital, construction financing from BBVA Compass, and $500,000 in Affordable Housing Program funding from the Federal Home Loan Bank of Atlanta.

Copyright 2019 WSFA 12 News. All rights reserved.