Communities

Co-General Partner/Co-Developer
Old Monrovia Apartments
Huntsville, Alabama

A 198 unit affordable community for families in Huntsville, Alabama being developed in partnership with Elmington Capital. The property was funded with the 4% Tax Credit allocated by Alabama Housing Finance Authority and a HUD 221(d)4 loan. Construction began in 2022 and is expected to be complete in late 2023.

Limited Partner
LaFayette Village
LaGrange, GA

As part of an effort to preserve the affordability of this 56 unit family property located in LaGrange, Georgia, NCI stepped in as the limited partner in 2022. The property was originally financed with low income housing tax credit equity and HOME Investment Partnership funds.

General Partner/Co-Developer
Cottages at Indian Creek
Huntsville, Alabama

A 56 unit affordable community for seniors in Huntsville, Alabama. The property was funded with a first mortgage from Alabama Multifamily Loan Consortium, City of Huntsville HOME funds, State of Alabama HOME funds, a FHLB of Atlanta Affordable Housing Program (AHP) award and housing tax credits allocated by the State of Alabama. The property placed in service in 2021.

Limited Partner
Greenbriar Townhomes
Theodore, Alabama

To assist in the preservation of this affordable property, NCI stepped in as a replacement limited partner. The development originally involved the acquisition, renovation and revitalization of a 40 unit USDA Rural Development property in Theodore, Alabama utilizing proceeds from low income housing tax credit equity and assumption of the existing USDA loan.

Limited Partner
Hounds Run Apartments
Theodore, Alabama

To assist in the preservation of this affordable property, NCI stepped in as a replacement limited partner. The development originally involved the acquisition, renovation and revitalization of a 188 unit USDA Rural Development property in Theodore, Alabama utilizing proceeds from low income housing tax credit equity and assumption of the existing USDA loan.

Limited Partner
Timberline Apartments
Thomasville, Alabama

To assist in the preservation of this affordable property, NCI stepped in as a replacement limited partner. The development originally involved the acquisition, renovation and revitalization of a 51 unit USDA Rural Development property in Thomasville, Alabama utilizing proceeds from low income housing tax credit equity and assumption of the existing USDA loan.

Limited Partner
Pinehurst Apartments
Thomasville, Alabama

To assist in the preservation of this affordable property, NCI stepped in as a replacement limited partner. The development originally involved the acquisition, renovation and revitalization of a 49 unit USDA Rural Development property in Thomasville, Alabama utilizing proceeds from low income housing tax credit equity and assumption of the existing USDA loan.

General Partner/Developer
Cottages at Indian Creek
Huntsville, Alabama

A 56 unit affordable community for seniors in Huntsville, Alabama. The property is funded with a first mortgage from Alabama Multifamily Loan Consortium, City of Huntsville HOME funds, State of Alabama HOME funds and housing tax credits allocated by Alabama Housing Finance Authority and a FHLB of Atlanta Affordable Housing Program (AHP) award. The property placed in service in 2021

Limited Partner
Virginia Meadows # 2 Apartments
Montgomery, Alabama

A 112 unit affordable community for families in Montgomery, Alabama. The property was funded with affordable housing tax credits and a HUD insured 223(f) mortgage. The property was sold in 2019.

General Partner
Flint River Apartments
Huntsville, Alabama

A 72 unit affordable community for families in Huntsville, Alabama. The property is funded with City of Huntsville HOME funds, a conventional loan and housing tax credits allocated by Alabama Housing Finance Authority.

Limited Partner
Quail Run Apartments
Tallassee, Alabama

A 56 unit affordable community for families in Tallassee, Alabama. The property was funded with housing tax credit equity, the HOME Investment Partnership program and conventional financing.

General Partner
Clarkston Square Apartments
Huntsville, Alabama

A 56 unit affordable apartment community for seniors in Huntsville, Alabama. The property, which was developed in partnership with TBG Residential, was financed with HOME loans from the City of Huntsville and Alabama Housing Finance Authority, conventional financing and proceeds from the sale of housing tax credits.

General Partner
Longleaf Senior Village
Aiken, South Carolina

A 50 unit affordable apartment community for seniors in Aiken, South Carolina. The development received a 2013 allocation of low income housing tax credits and a HOME loan from the South Carolina State Housing Finance & Development Authority and was developed in partnership with Peachtree Housing Solutions of Atlanta, Georgia.

Limited Partner
Cotton Run Apartments
Phenix City, Alabama

A 96 unit affordable community for families in Phenix City, Alabama. The property is funded with housing tax credits and a HUD insured 223(f) mortgage.

Limited Partner
Rolling Hills Apartments
Millbrook, Alabama

A 136 unit affordable community for families in Millbrook, Alabama. The property is funded with affordable housing tax credits and a HUD insured 223(f) mortgage. The property was sold in 2021.

General Partner
Conners Senior Village II
Villa Rica, Georgia

A 60 unit affordable apartment community for the elderly in Villa Rica, Georgia funded through the Low Income Housing Tax Credit and HOME Investment Partnership programs. This property, which is the second Georgia development for Neighborhood Concepts, was developed in partnership with Peachtree Housing Solutions. NCI sold its interest in this property in 2022.

Developer & General Partner
Spring Branch Apartments
Huntsville, Alabama

Acquisition, rehabilitation and repositioning of 70 unit affordable apartment community in Huntsville, Alabama funded with low income housing tax credit equity, City of Huntsville CDBG and UDAG. The property offers 2, 3 and 4 bedroom units as well as clubhouse, learning center, splash park and community garden.

Limited Partner
Ashley Villas Apartments
Montgomery, Alabama

A 41 unit affordable community for families in Montgomery, Alabama. The property was funded with housing tax credits allocated by Alabama Housing Finance Authority and is currently funded with a conventional loan from Alabama Multifamily Loan Consortium.

Limited Partner
Pine Ridge Apartments
Jackson, Alabama

A 48 unit affordable community for families in Jackson, Alabama. The property is funded with State of Alabama HOME funds, housing tax credits allocated by Alabama Housing Finance Authority, conventional financing and a Federal Home Loan Bank of Atlanta Affordable Housing Program direct subsidy. The property was sold in 2022.

Limited Partner
Ridge Chase Apartments
Thomasville, Alabama

A 48 unit affordable community for families in Thomasville, Alabama. The property is funded with State of Alabama HOME funds, housing tax credits allocated by Alabama Housing Finance Authority, and conventional financing. The property was sold in 2021.

Limited Partner
Countryside Villas Apartments
Headland, Alabama

A 24 unit affordable community for families in Headland, Alabama. The property was funded with housing tax credits allocated by Alabama Housing Finance Authority and conventional bank financing.

General Partner
Conners Senior Village
Villa Rica, Georgia

New construction of a 60 unit affordable apartment community for the elderly located in Villa Rica, Georgia. The property was funded from proceeds from low income housing tax credit equity and HOME Investment Partnership programs. This property, which is the first Georgia development for Neighborhood Concepts, Inc., is being developed in partnership with Peachtree Housing Solutions.

Development Consultant
Terry Heights Neighborhood Redevelopment

NCI acted as real estate consultant to Family Services Center of Huntsville in the acquisition and rehabilitation of single family homes and the construction of new single family homes on in-fill lots in a Qualified Census Tracts in Huntsville, Alabama. Funding for the development was provided through the Neighborhood Stabilization Program (NSP) and HOME Investment Partnership Program.

Developer/General Partner
Hunters Landing Apartments
Arab, Alabama
Year: 2007

Acquisition, renovation and revitalization of a 50 unit USDA Rural Development property in Arab, Alabama utilizing proceeds from low income housing tax credit equity, an assumption of the existing USDA loan, and a $500,000 AHP direct subsidy grant from the Federal Home Loan Bank of Atlanta through Redstone Federal Credit Union.

Developer/General Partner
Quail Ridge Apartments
Arab, Alabama
Year: 2007

Acquisition, renovation and revitalization of a 24 unit USDA Rural Development property in Arab, Alabama utilizing proceeds from low income housing tax credit equity, an assumption of the existing USDA loan, and a $500,000 AHP direct subsidy grant from the Federal Home Loan Bank of Atlanta through Redstone Federal Credit Union.

Developer
Sunrise Gardens Apartments
Huntsville, Alabama
Year: 2003

Development of two duplexes comprised of 8 apartment units for low income families with mental illness. NCI developed this property for the Huntsville Madison County Mental Health Center with State of Alabama HOME funds and Federal Home Loan Bank of Atlanta AHP funds. Total development costs were approximately $350,000.

Co-General Partner
Meadow Oaks Apartments
Rainbow City, Alabama
Year: 2001

A 56 unit 2, 3, and 4 bedroom apartment community for families at 50% or below the area median income. This community was developed with financing from Low Income Tax Credits, State of Alabama HOME Funds, conventional debt, and Federal Home Loan Bank of Cincinnati AHP Funds. Various resident based services are available to the community including children’s programs. Total development costs were approximately $5,000,000. This property was sold in 2021 .

Participant, Fannie Mae FHA Automated Underwriting Pilo
Year: 1998

NCI was chosen as the only non-profit participant in a national pilot to test the feasibility of an automated underwriting program for FHA originated mortgages. Through this program, prospective homebuyers were evaluated by a computerized underwriting program.

Co-Developer & Operating General Partner
Mountain Ridge Apartments
Huntsville, Alabama
Year: 1998

A 50 unit apartment community for families at or below 50% of the area median income. This community was funded in part through the Low Income Housing Tax Credit program. The community has several resident based services designed to assist residents in setting and achieving goals towards homeownership. The property was sold in 2019.

Developer
Burgundy Park
Huntsville, Alabama
Year: 1997

Financed and developed a $50,000 community park and playground for low-to-moderate income children residing in a HUD designated low income census tract. The playground serves approximately 300 families offering safe recreational opportunities for the residents of this community.

Housing Counselor and Development Team Member
Meadow Hills Neighborhood Revitalization
Huntsville, Alabama
Year: 1997

Acquisition and substantial rehab of 150 rental homes in a Northwest Huntsville neighborhood. Upon completion of rehab, homes were sold to low-to-moderate income families. This $9 million project was funded with a $4 million acquisition loan from a consortium of five local banks as well as CDBG funds and HOME funds.

Co-Developer and Special Limited Partner
Westland Park Apartments
Huntsville, Alabama
Year: 1993

The rehabilitation of a 229 unit apartment complex for families at or below 60% of the area median income. The total cost of acquisition, rehabilitation and development was approximately $7 million. Financing for the project included a conventional loan, CDBG funds and low income housing tax credit syndication proceeds. NCI transferred its interest in the property once the development was complete.

Developer and Operating General Partner
Burgundy Square Apartments
Huntsville, Alabama
Year: 1992

A 90 unit 2 bedroom apartment community for low income families. NCI secured the financing necessary to construct this $4.5 million development with funds from an Urban Development Action Grant (UDAG), CDBG Funds, a subsidized advance through the Federal Home Loan Bank of Atlanta’s AHP program, and the equity from the sale of the project’s Low Income Housing Tax Credits. Additionally, NCI was successful in obtaining 82 project based Section 8 units for the project. The project serves families at or below 50% of the median area income.

Developer
Martin Luther King Community Service Center
Huntsville, Alabama
Year: 1991

A 34,000 square foot community center developed in a HUD designated low income census tract which has made social services easily accessible to low to moderate income families. The MLK Center is home to the Madison County Daycare Association, Legal Services of North Alabama and the Food Bank of North Alabama.

Limited Partner
Seven Pines Apartments, Ltd.
Huntsville, Alabama
Year: 1991

A 24 unit apartment complex developed in Northwest Huntsville financed with Community Development Block Grant (CDBG) funds, conventional loan and equity from low income tax credit syndication.