View Single Post
  #4677  
Old Posted Jun 3, 2018, 5:07 PM
Johnny Ryall Johnny Ryall is offline
Registered User
 
Join Date: Jan 2010
Posts: 1,757
$210M South City construction delayed but now underway
Michael Waddell | High Ground News


Quote:
Now both Phase I and Phase II will be built out at the same time. The city closed on funding for Phase I in March and the goal is to close on Phase II by June. The funding for each phase has been secured from the City and Federal government, but the development team must apply for and secure tax credits through THDA to fund each phase annually. Overall, the project will be built in six phases of construction consisting of approximately 110 to 120 units apiece between now and 2022. Of the 712 total units, 480 will be placement units for public housing, The city’s Housing and Community Development department is partnering with Community Capital on the potential adaptive reuse of nearby school facilities like Martin Luther King Transitional Center and Georgia Avenue Elementary School to potentially serve as mixed-use facilities. “We as a team have gotten options to acquire both [schools],” said Young. “Both of those are projects that we are looking to identify uses for. With Georgia Elementary, our idea is to locate Girls Inc., which has already expressed interest in having a presence in that facility, and we’re looking at having an early childhood center in one of the buildings." Plans are still in process for MLK Transitional School. “We believe that there are opportunities for commercial or nonprofit spaces on lower floors, with offices or residential units on the upper floors,” said Young.
http://www.highgroundnews.com/featur...fNextYear.aspx

photo High Ground News
Reply With Quote