Village at Blackshear Completes Housing Renovations for the Elderly and Disabled: USDA Provides $1.8 Million Loan Guarantee

Name
Deborah Callahan
City
BLACKSHEAR
State
Georgia
Release Date
Jan 22, 2015
Image
Village at Blackshear affordable housing project celebrated the completion of major renovations in January 2015

USDA today celebrated the completion of major renovations at the Village at Blackshear affordable housing development in Blackshear, Georgia.  The transformation of the property was made possible, in part, by a $1.3 million loan guarantee from USDA Rural Development.

"This rehabilitation brought together a variety of partners and programs, and improves the quality of life for many” said USDA Rural Development State Director, Quinton Robinson. Macon-Bibb Housing Authority with 14 funders, lenders and partner organizations worked together to provide the financing for the project. Renovations resulted in 64 one-bedroom apartments for elderly or disabled persons offering rental assistance subsidies for low income tenants for the next 20 years.

The joint venture by In-Fill Housing, Inc. (a Macon-Bibb Housing Authority non-profit affiliate) and Tapestry Development Group Inc., utilized USDA’s Guaranteed Rental Housing Loan program, which increases the supply of moderately-priced housing in rural areas; ensures that housing is affordable to low- and moderate-income rural residents whose incomes are 115 percent of area median income (AMI) or less; provides housing that is decent, safe, sanitary, and competitive in the market; and fosters risk-sharing partnerships with public and private lenders.  For more information about this or other USDA Multi-Family Housing programs in Georgia, call (706) 546-2164.

President Obama’s historic investments in rural America have made our rural communities stronger.  Under his leadership, these investments in housing, community facilities, businesses and infrastructure have empowered rural America to continue leading the way – strengthening America’s economy, small towns and rural communities.