Alabama

Groundbreaking for New Senior Apartments in Alabama Will Help Meet Significant Demand

To celebrate the groundbreaking for Country Club Estates in Montgomery, AL, community members and financing partners—including NeighborWorks Capital’s Senior Loan Officer Emily Dorfman—joined developers Gulf Coast Housing Partnership (GCHP) and Volunteers of America Southeast (VOASE).

The $12.6 million project will transform a vacant site in Montgomery into 62 new one-and two-bedroom apartments for seniors with incomes of $32,000 to $40,000 (50-60% AMI), with 16 apartments set aside for veterans and four for disabled individuals. NC has committed a $680,000 permanent loan for the development, which will help meet the significant demand for high-quality affordable homes for seniors and individuals with disabilities.

NC’s Bridge Loans Help Accelerate Development Across the Country

Short-term bridge loans help organizations with liquidity needed to complete projects and increase the pace of development.