The Appaloosa Run Apartments has closed with construction has started. The apartments should be completed sometime in May or June of 2020. These are 2 and 3-bedroom units in 2 and 3-story building in Andalusia, Alabama. Olympia Construction our of Albertville, Alabama will be the contract and Olympia Management will be the property manager.
Construction financing has been provided by Wells Fargo Bank and equity is being provided by RBC Tax Credit Equity. This 56-Unit development also has HOME and House Trust Fund (HTF) funds. The funding allocation was provided by Alabama Housing Finance Authority (AHFA). The Alabama Housing Finance Authority was established by an act of the Alabama Legislature as a public corporation to create housing opportunities for low- and moderate-income citizens.