Strong communities offer housing choices, economic opportunities and community activities so residents can live, work and play in their neighborhoods. At Neighborhood Concepts, we understand that a community needs each of these things in order to thrive and we take a proactive approach to developing comprehensive strategies to address these needs.
According to the National Low Income Housing Coalition’s 2016 Out of Reach Survey, the hourly wage needed to afford a 2-bedroom apartment in the State of Alabama is $13.93. Many working families, particularly those earning minimum wage, struggle to find safe, decent and affordable housing. In response to this housing gap, NCI develops affordable multifamily housing for both seniors and families at rents that are affordable.
We believe that affordable doesn’t mean poorly built or lacking in amenities. As such, our communities are designed to feel like home with modest amenities in the units and numerous community amenities such as playgrounds, splash parks, clubhouses, community gardens and exercise facilities.
We recognize that many of our residents dream of owning their own home or starting their own business. To help them reach those goals, we strive to offer classes and services that equip them with the tools necessary to succeed. In partnership with local financial institutions, we host financial literacy and credit rebuilding workshops and also offer job readiness training. Community holiday activities, movie nights and pot luck suppers foster a sense of community among our residents and pride within the neighborhood.
For those interested in starting or growing their business, we offer small business loans through North Alabama Revolving Loan Fund, our subsidiary Community Development Financial Institution or CDFI. Loans ranging from $5,000 to $250,000 are available to small businesses that are unable to access traditional financing. Whether you are a start-up or an emerging company, we offer products to suit your needs as we lend on both balance sheet and business plan.