The Lodges on Lincoln, a 56-Unit HOME and tax credit financed development in Selma, Alabama is 40% completed. The projected completion date for the units is October of 2019. The equity provider for the development is RBC Tax Credit Equity and the construction lender is Wells Fargo. The general contractor is Olympia Construction out of Albertville, Alabama. The units will be managed by Olympia Management also in Albertville.
The development will consist of 32 two-bedroom and 24 three-bedroom units in four buildings with an additional clubhouse building that will include a laundry, fitness area, community room, and leasing office. The development is off of Lincoln Drive in Selma with the clubhouse address being 55 Tower Drive, Selma, Alabama.
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 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.