HUNTSVILLE — An affordable senior housing community in Huntsville will soon be opening to serve those aged 55 and older.
The construction of Arbours at Moores Mill II, a $19.5 million development, is being supported by $889,000 allocated by the city from the federal government’s HOME Investment Partnerships Program funds.
“The city’s commitment to HOME program funds reflects its dedication to addressing affordable housing needs, particularly for seniors,” the city said in a statement. “By leveraging federal resources like LIHTC and HOME funds, Huntsville continues to enhance housing opportunities while fostering community growth and inclusivity.”
The project will reserve units for individuals at 50% and 60% of the Area Median Income (AMI) and maintain affordability for at least 20 years, the city said. Phase I of this project will be completed next summer and includes 80 units for seniors aged 55 and older.
The funding commitment from the city is contingent upon the project receiving an allocation of Low-Income Housing Tax Credits (LIHTC) from the Alabama Housing Finance Authority.
Huntsville’s Community Development department oversees and implements HOME programs and many others to support the vitality of neighborhoods. Its goal is to stabilize lower-income neighborhoods, economically empower lower-income persons and/or those living in lower-income neighborhoods, and provide assistance to the special needs population in our community.
