Franklin Housing Authority to break ground Sept. 10 on new affordable housing community for seniors
The Franklin Housing Authority, along with its private sector partner, The Michaels Development Company, will host a Groundbreaking Ceremony for The Senior Residences at Reddick, a brand new, housing community designed specifically for seniors with low- and moderate-incomes on the site of former outdated public housing, Monday, Sept. 10 at 2 p.m.
The ground-breaking will take place at 129 Strahl St. in Franklin where featured speakers will include Franklin Mayor Dr. Ken Moore, County Mayor Rogers Anderson, Derwin Jackson, Executive Director, Franklin Housing Authority, and Ava Goldman, Senior Vice President, The Michaels Development Company.
City, County, Federal officials will join executives from The Franklin Housing Authority and The Michaels Development Company to celebrate the ground breaking of The Senior Residences at Reddick, a brand new three-story elevator building that is being developed on the former site of public housing on Strahl Street. The new community will feature 44 one-bedroom apartments and four two-bedroom units designed specifically for an elderly population. The community, which will be affordable to seniors with low and moderate incomes, benefitted from $1 million in state housing trust funds, $500,000 from FHA’s capital fund, and more than $6 million in equity raised through federal Low Income Housing Tax Credits.
Located off Columbia Pike near downtown, residents of the new Senior Residences at Reddick Street will have easy access to to nearby neighborhood services, retail, the library and public transportation. The new community will also offer ample amenities including a community room with kitchenette, a common laundry room, and a multi-purpose activity room.
For more than 55 years, the Franklin Housing Authority has provided affordable, safe housing for low and moderate-income families in Franklin, Tenn. FHA operates 253 public housing units serving nearly 600 residents. Funded through rental income and subsidies from the Department of Housing & Urban Development, FHA also supports partnerships with programs that foster economic self-sufficiency for residents.
The Michaels Organization is a family of eight integrated but independent companies dedicated to excellence in affordable, mixed-income, military and student housing. Our flagship company, The Michaels Development Company, is the number-one private sector affordable housing owner and developer in the country, having produced more than 55,000 units in 32 states, the District of Columbia, and the Virgin Islands since 1973. Its sister company, Interstate Realty Management, is an award-winning property and asset management company known for its industry-leading social services programs. Visit www.TheMichaelsOrg.com for more information.
Posted on: 9/4/2012