Affordable Housing Grant Moves Mississippi Apartment Complex Moves from Dream to Reality

Affordable Housing Grant Moves Mississippi Apartment Complex Moves from Dream to Reality

BATESVILLE, MS - A 102-unit apartment community has been rehabilitated, thanks in part to a $500,000 Affordable Housing Program (AHP) grant. The Federal Home Loan Bank of Dallas (FHLB Dallas), through its member institution Hope Credit Union, provided the grant. A ribbon-cutting ceremony was held at Skyview Apartments, and Mississippi Governor Phil Bryant praised the project.

"This is a great day for the city of Batesville, cutting the ribbon on the first healthcare zone master-planned community," Governor Bryant said. "This is exactly the type of project we envisioned when we asked developers to submit these healthcare master plans, and I know this is only the first success story of many to come around Mississippi. These developments will provide workforce housing for families to raise their children in a safe place and pursue the American dream."

The Skyview Apartment complex was originally developed in 1978 and was in desperate need of rehabilitation. Hope Credit Union stepped in to help, securing the AHP grant for the ambitious project. The project also benefited from an allocation of Low Income Housing Tax Credits from Mississippi Home Corporation and other funding.

"Regardless of your socio-economic status, you shouldn't have to worry about not having a secure roof over your head," noted Bill Bynum, CEO of Hope Credit Union. "We are so excited to have been a part of this worthwhile project that is making safe and affordable housing available to our community's most vulnerable."

Greg Hettrick, vice president and director of Community Investment with FHLB Dallas, attended today's event, and said it is a great example of what can be accomplished when we pull our resources together. 

"Our member institutions are committed to being a viable partner in resolving affordable housing concerns in the communities they serve, and at FHLB Dallas, we support their efforts through our many grant programs," said Mr. Hettrick.

According to Vonnie Carroll, property manager for Skyview Apartments, the 102-unit complex is fully occupied by low-income families and elderly residents. The development consists of 18 residential buildings. There are 24 one-bedroom units, 26 two-bedroom units, 28 three-bedroom units, and 24 four-bedroom units.

"This property had aged over the years, and we are so thankful to Hope Credit Union, FHLB Dallas, and others who pulled together to turn this project from a dream into a reality," said Ms. Carroll.

Source: Federal Home Loan Bank of Dallas / #Affordable #Housing

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