Jacksonville Housing Authority Sponsors 55 units of New Affordable Housing in the City of Jacksonville
BUILDING TOMORROW’S COMMUNITIES TODAY
On July 18, 2012 the Jacksonville Housing Authority, through its affiliate, Jacksonville Partnership for Housing LP, closed on the $10 Million Dollars of financing required to commence the construction of the 55 homes which will be located off of Cloverdale Road.
In 2009 The Jacksonville Housing Authority Chairman Mike Wilkinson along with the Board of Commissioners and Executive Director Phil Nix recognized the need for additional affordable rental housing units in the City of Jacksonville AR. Knowing the need and keeping with the Mission of the Authority the Board unanimously voted to proceed with the solicitation of Developers to assist them with the endeavor. In November of 2009 the Board selected to head the effort SE Clark & Associates, Inc., an Arkansas Developer with a proven track record of success working with Public Housing Authorities across the nation.
The development will be built in an existing subdivision known as “The Meadows” which is located off of Cloverdale Road in Jacksonville AR. The development was made possible by;
· a predevelopment loan from President Larry Wilson, First Arkansas Bank allowing the Authority to purchase the land
· receiving an award of Affordable Housing Tax Credits, HOME Funds and CDBG Funds from the Arkansas Housing Development Finance Authority
· a permanent loan, backed by the US Department of Housing & Urban Development through Prudential Hooton Paige a HUD mortgage lender
· Alliant Capital Group, an equity partner that is purchasing the Affordable Housing Tax Credits.
The Meadows, once completed, will provide 55 units of affordable three and four bedroom 2 bath single-family housing units that on average will be 1300 sq. feet and have attached 2-car garages. These homes will be carpeted throughout the living areas with vinyl in the kitchens and baths, ceiling fans in each room, fully applianced kitchens and rear patios for family gatherings. The rents will be affordable starting at $307 per month up to $960 per month. The Meadows will be professional managed by PDC Corporation, a private real estate and management firm known for its experience and excellence in property management.
The Housing Authority worked closely with the Mayor of Jacksonville, Gary Fletcher, and his staff in completing this phase of the development. The Mayor’s continued support and tireless work on behalf of The Meadows has been greatly appreciated.
The Housing Authority also wishes to thank SE Clark & Associates, Developer, Craig Custom Construction of Little Rock, General Contractor, QSF & Associates, Consultant, PDC Companies of Little Rock, Property Management, The Arkansas Development Finance Authority and the Department of Housing & Urban Development. The Meadows would not have been possible if it were not for all of our dedicated partners working together. For More information on the Development Contact Steve Ficklin (501) 838-1100 and to reserve your new Home call PDC Companies (501) 666-9629.
Date: August 14, 2012
Time: 11:30am TO 1:00pm
LOCATION: 304 Meadows Drive off Cloverdale Road, Jacksonville, AR