February 2017

Red Oak Ridge Townhomes Ground Breaking

Lincoln, Alabama – DSI Real Estate Partners (DSI) and co-developer Aletheia House Housing (AHH) commenced construction on Red Oak Ridge Townhomes in February 2017. The development received a 9% Low Income Housing Tax Credit (LIHTC) and HOME Investments Partnership Program award through the Alabama Housing Finance Authority which will serve as funding sources for the majority of the $7.5 million project. Additional financial partners for the development include Community Affordable Housing Equity Corporation (CAHEC) headquartered in Raleigh, North Carolina and Bank Independent’s Decatur, Alabama office. McKean and Associates of Montgomery, Alabama are serving as the project’s architect and Doug Hollyhand Realty of Northport, Alabama is providing General Contracting services.

Red Oak Ridge will be made up of a total of 42 housing units; 39 units will be two-story, 3-bedroom/2.5 bath attached townhomes with three, single story units set aside and designed specifically to serve residents with mobility impairments. All units will be finished with energy efficient appliances, luxury vinyl plank flooring, all-wood cabinetry, granite inspired counter tops and brushed nickel lighting and plumbing fixtures. The development will also include a common-use clubhouse which will house the leasing office, community gathering room complete with flat screen TVs, computer center, and laundry and fitness facilities along with a rear sitting porch. Exterior amenities will include a picnic pavilion, charcoal grills, picnic tables, a mail kiosk and children’s playground.

The development team and financial partners are excited about the project and feel it will address the unmet needs of affordable housing in the Lincoln area of Talladega County, Alabama. Red Oak Ridge is well positioned from both an economic and regional connectivity perspective. The 1,500-employee Honda Manufacturing Facility is located just two miles to the west of the development with Interstate 20 a mere 1.5 miles to the south and U.S Highway 78 less than a mile to the north. Pell City is approximately 10 miles to the west with the Anniston-Oxford MSA 20 miles to the east.

Red Oak Ridge Townhomes Ground Breaking Red Oak Ridge Townhomes Ground Breaking
Red Oak Ridge Townhomes Ground Breaking Red Oak Ridge Townhomes Ground Breaking