June 2014

Amberwood Completion

DSI and non-profit partner Aletheia House could not be more thrilled to announce construction completion for Amberwood apartments. Located in Center Point, Alabama, the 104-unit property has an attractive unit mix of one, two and three bedroom apartments that will target families for its tenant base.

Originally built in the early 1970’s, the property has undergone a complete and substantial renovation including the replacement of all mechanical systems, new roofs and exterior siding, all new interiors, a newly constructed clubhouse, playground, grilling area and a fresh landscaping package to top it off. Through an ingenuitive approach, the development team initially acquired and stabilized the property through Neighborhood Stabilization Program III then moved to apply for a 9% housing tax credit allocation which provided the additional funding to make the property what it is today.

Demolition Tuxedo Park

Demolition has begun on the former Tuxedo Elementary School to make way for Tuxedo Park, a newly constructed 42-unit seniors housing community. The 31,000 square foot school building was originally built in 1962 and served local students until its doors where closed in recent years as part of the Birmingham Board of Education’s consolidation plan. We are excited to participate in the advancement of community revitalization occurring in the Ensley area of Birmingham.