MONTGOMERY, AL (WSFA) - The Montgomery Housing Authority announced Thursday that it received $1.29 million in funding to be put towards financing 80 new apartments and town homes in downtown Montgomery.
The money will help fund Phase II of Columbus Square, which is a new community under construction at the intersection of Columbus and North Union streets. The estimated $16 million project is scheduled to be ready for occupancy by summer 2019.
The MHA along with Norstar Development USA, was awarded the grant in the form of tax credit money from the Alabama Housing Finance Authority.
The contemporary-style community will feature washers and dryers for each unit, a computer center, an exercise room, covered picnic areas and a playground for children.
Evette Hester, executive director at MHA, said this project is the seventh major construction project since 2007 that the MHA has developed or rehabilitated alongside the City of Montgomery.
"In an environment of dwindling resources, these partnerships are vital to revitalizing communities," she said. "MHA has redefined its concept of the affordable housing by building communities where families desire to live, empowering people and adding immeasurable value to quality of life."
Between 2011 and 2015, Norstar was ranked among the top 50 Affordable Housing Developers in the nation by the Affordable Housing Finance Magazine.