OurWork

Communities

Neighborhood Concepts is experienced in the development of affordable single and multi-family housing and commercial properties providing services to low-to-moderate income families. Through these development activities we have gained experience in various federally funded programs including the Community Development Block Grant (CDBG), the HOME Investment Partnership program and the Housing Tax Credit Program. We have also successfully utilized the Federal Home Loan Bank Affordable Housing Program and other quasi-federal programs.

Our experience includes:

  • 2018

    General Partner/Developer
    Cottages at Indian Creek
    Huntsville, Alabama

    A 56 unit affordable community for seniors in Huntsville, Alabama. The property is funded with City of Huntsville HOME funds, State of Alabama HOME funds and housing tax credits allocated by Alabama Housing Finance Authority. Construction is expected to begin in 1st quarter 2019 with completion in early 2020.

  • 2017

    Limited Partner
    Virginia Meadows # 2 Apartments
    Montgomery, Alabama

    A 122 unit affordable community for families in Montgomery, Alabama. The property was funded with affordable housing tax credits and a HUD insured 223(f) mortgage.

  • 2016

    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.

  • 2015

    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.

  • 2014

    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.


    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.


    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.


    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.

  • 2013

    General Partner
    Franklin Hills Apartments
    Huntsville, Alabama

    56 units of affordable multi-family housing for the elderly in Huntsville, Alabama funded with a $250,000 HOME loan and low income housing tax credits allocated by Alabama Housing Finance Authority. Franklin Hills was developed in partnership with TBG Residential of Atlanta, Georgia.

  • 2012

    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.

  • 2010

    Development Consultant
    Aid to Inmate Mothers
    Montgomery, Alabama
    Year: 2010-2012

    NCI performed a feasibility analysis regarding the development of a transitional group in Montgomery, Alabama for women in crisis and assisted in preparation of CDBG application.

  • 2007

    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.

  • 2003

    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.

  • 2001

    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, comventional 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

  • Older

    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.


    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.


    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.

 

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