Construction Commences on Appaloosa Run Apartments

InVictus is proud to announce that a Ground Breaking celebrating the start of construction of Appaloosa Run Apartments took place September 5th in Andalusia, Alabama.    Mayor Earl Johnson, Councilmember Hazel Griffin, members of the Board of the Chamber of Commerce joined State Representative Mike Jones, Gene Gant of Alabama Housing Finance Authority, and representatives from all facets of the development to mark the coming of 56 new apartment units affordable to working families in Andalusia.

Olympia Construction out of Albertville, Alabama is the General Contractor for the development and its affiliate, Olympia Management, will serve as the property management company.  McKean & Associates, Architects, out of Montgomery displayed their floor plans for the 2-bedroom and 3-Bedroom units that will be housed in two 3-story and one 2-story building. Also on display were the architect’s elevations for the three residential buildings and community building that are styled to complement the City’s architectural tradition.

We were pleased to be joined by Mike Marra of Wells Fargo Bank, the construction lender for the development, and Stephen Lee of RBC Tax Credit Equity, the investor who purchased the Housing Credits awarded to Appaloosa Run by AHFA.   In addition to the Housing Credits, AHFA also awarded HOME and Housing Trust Fund (HTF) funds.

The apartments at Appaloosa Run are expected to be completed July 2020.  Questions regarding leasing should be directed to Debbie Smith with Olympia Management, Inc.