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					                        FHLBank Atlanta Affordable Housing Program 2007 Round II Winners

ALABAMA

Highland View
Birmingham, AL
Sponsored by: Aletheia House of Birmingham, AL
Member: Regions Bank
Grant: $500,000 for 39 units
Aletheia House will use AHP fund for the acquisition of 39 historic units in Birmingham. These units
will be used to provide housing to low-income people, including individuals who are formerly homeless,
including homeless veterans. Aletheia House will also provide case management and other supportive
services.

The Lovelady Center
Birmingham, AL
Sponsored by: Freedom Rain, Inc. of Birmingham, AL
Member: New South Federal Savings Bank
Grant: $500,000 for 300 units
AHP funds will be used for rehabilitation of the Lovelady Center (TLC) which is owned by Freedom Rain,
Inc. It is a four-story building that was built in the 1950s as a hospital and now houses a substance abuse
recovery and treatment transition program for women.

St. Alban’s Phase II
Enterprise, AL
Sponsored by: BC Holdings, LLC of Summerville, GA
Member: Regions Bank
Grant: $325,000 for 40 units
AHP funds will be used for the construction of 40 apartments reserved for seniors age 55 and older. There
will be 16 one-bedroom units, 24 two-bedroom units, and a clubhouse facility.

Deerfield Place
Eufaula, AL
Sponsored by: Paladin, Inc. of Gadsden, AL
Member: Regions Bank
Grant: $215,000 for 40 units
The Deerfield Place Community will consist of 40 units of multifamily housing. The complex will be located
on five acres connected with common walkways, parking, and community facilities including walking trails,
park benches, and gazebos. The AHP funds will be used along with a conventional mortgage and Low-
Income Housing Tax Credits (LIHTC) from Alabama Housing Finance Authority.

Hale County Habitat for Humanity
Greensboro, AL
Sponsored by: Alabama Association of Habitat Affiliates of Auburn, AL
Member: Colonial Bank, National Association
Grant: $75,000 for 5 units
The AHP grant will be administered by the Alabama Association of Habitat Affiliates (AAHA) to assist five
very low-income families purchase homes by providing down payment assistance.

Greenville Terrace
Greenville, AL
Sponsored by: United Hopes, Inc. of Tuscaloosa, AL
Member: BankTrust
Grant: $500,000 for 48 units
AHP funds will be used for rehabilitation of Greenville Terrace, a twenty-six year old USDA Rural
Development project. It is a 48-unit family complex with 16 one-bedroom units, 32 two-bedroom units, an
office, and a laundry room. Greenville Terrace Apartments sits on approximately five acres of land.
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Owning In Hale (Hale Empowerment Revitalization Organization)
Hale, AL
Sponsored by: HERO, Hale County Housing Resource Center of Greensboro, AL
Member: New South Federal Savings Bank
Grant: $187,500 for 25 units
AHP funds will be used to provide down payment and closing assistance for homebuyers.

Brookstone Village Apartments
Jacksonville, AL
Sponsored by: Chimney Peak Development Corporation of Jacksonville, AL
Member: Bank Independent
Grant: $200,000 for 46 units
AHP funding will be used for construction costs of Brookstone Village Apartments, which will consist of 46
apartments for the elderly. The complex will include 22 one-bedroom units and 24 two-bedroom units for
people making 50-60% below the Area Median Income (AMI).

Meadowcrest II Apartments, Ltd.
Luverne, AL
Sponsored by: United Hopes, Inc. of Tuscaloosa, AL
Member: BankTrust
Grant: $500,000 for 32 units
Meadowcrest Apartments is a 32-unit USDA 515 project that is approaching the termination of its 20-year
holding period after which the owner may opt out of the USDA program and take the project to market
rents. The AHP grant will allow for the acquisition of the project by a nonprofit owner committed to the
long-term retention of affordable housing units. This will keep the project from being converted to market-
rate housing, thus preserving the already existing public subsidy in the project and ensuring the continued
availability of this affordable housing product. Additionally, funding will be used for the improvement of the
property.

Downtown Renaissance
Mobile, AL
Sponsored by: Mobile Housing Board of Mobile, AL
Member: SunTrust Bank
Grant: $440,000 for 88 units
The Mobile Housing Board (MHB) will use AHP funding to build an 88-unit multifamily project on a
130-acre public housing revitalization site it currently owns. The project, called Downtown Renaissance
(DR), is the first on-site phase of the Owens/Thomas Homes revitalization project funded by a $20 million
HOPE VI Grant. DR is intended for seniors 55 years and over with incomes at or below 60 % of the AMI.
MHB and Pennrose Properties LLC are co-developers of the project.

Church Street Homeownership
Mobile, AL
Sponsored by: Mobile Housing Board of Mobile, AL
Member: SunTrust Bank
Grant: $60,000 for 6 units
AHP funds will be used for down payment assistance for six affordable single-family detached homes in
Mobile, AL. The three-bedroom homes will be built during the Church Street Homeownership project,
which is part of Mobile Housing Board’s Owens/Thomas HOPE VI Revitalization Project. This project
consists of the development of 12 homes (six affordable and six market-rate), including a variety of
historic architectural designs that complement the surrounding architecture in the neighborhood. This
will add to a stable mixed-financed mixed-income community and become one of the cornerstones of the
MHB’s HOPE VI revitalization project.

Mockingbird Pointe
Monroeville, AL
Sponsored by: BC Holdings, LLC of Summerville, GA
Member: Regions Bank
Grant: $280,000 for 56 units
AHP funds will be used for construction costs of building a two-story apartment complex with two

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elevators. The complex will consist of 12 one-bedroom and 44 two-bedroom units for seniors (age 55 and
older). AHP funds will be used along with Low-Income Housing Tax Credits from the Alabama Housing
Finance Agency.

South Hills
Pell City, AL
Sponsored by: Paladin, Inc. of Gadsden, AL
Member: Regions Bank
Grant: $280,000 for 56 units
AHP funds will be used for acquisition and construction along with Low-Income Housing Tax Credits as
administered through the Alabama Housing Finance Authority to complete the financial package to fund
the South Hills apartments. The community will consist of 56 multifamily housing units, 28 two-bedroom
units, and 28 three-bedroom units.

Ivy Manor
Troy, AL
Sponsored by: Paladin, Inc. of Gadsden, AL
Member: Regions Bank
Grant: $240,000 for 48 units
The AHP grant will be used for land acquisition and construction for this complex which will provide 48
units for low- and very low-income families. The Alabama Housing Finance Agency will provide both
HOME funds and Low-Income Housing Tax Credits and the member will provide permanent financing to
develop and construct the family development in Troy, Alabama.

DISTRICT OF COLUMBIA

Homeless Veterans Reintegration Housing Program
Washington, D.C.
Sponsored by: All Faith Consortium of Washington, D.C.
Member: Branch Banking and Trust Company
Grant: $500,000 for 43 units
The All Faith Consortium, in conjunction with the Washington VA Medical Center, will use AHP funds to
acquire and renovate a 43-bed Transitional Housing Program for homeless veterans in the metropolitan
Washington, D.C. area. This will represent a 61% increase in the number of transitional housing
beds and will make great strides in serving the many homeless veterans in Washington. The All
Faith Consortium operates in partnership with the D.C. City Council, Department of Human Services,
Department of Veterans Affairs, Department of Employment Services, and the District’s faith-based
community to respond to the critical needs of the District of Columbia’s most vulnerable veterans.

Ft. Stevens Place Apartments
Washington, D.C.
Sponsored by: THC Affordable Housing, Inc. of Washington, D.C.
Member: City First Bank of D.C., N.A.
Grant: $256,000 for 32 units
AHP funds will be used for renovation costs of a vacant building in the district’s Brightwood/Upper
Georgia Avenue neighborhood, a newly designated Neighborhood Investment Fund (NIF) neighborhood.
The finished building will have 32 units of mixed-income affordable rental housing and will provide
resident services to the tenants. Five of the units (two two-bedrooms and two one-bedrooms) will be ADA
compliant units. Nine units will be available to very low-income residents (0-30% of the AMI).

Trinity Plaza
Washington, D.C.
Sponsored by: Far SW-SE Community Development Corporation of Washington, D.C.
Member: United Bank
Grant: $280,000 for 28 units
The nonprofit Far SW-SE Community Development Corporation will use AHP funding to develop Trinity
Plaza, a mixed-use, mixed-income project with 42 homeownership opportunities and over 22,000 square
feet of nonprofit office and commercial retail space. The new environmentally-sensitive building is
designed to include underground parking, ground floor nonprofit, community, and commercial space, and
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three floors of affordable and market-rate for-sale condos above. Environmental design elements will
include the use of low-VOC paints and adhesives, recycled content and low-toxicity materials, energy-
star appliances, low flow plumbing fixtures, energy efficient lighting, green roofs, and water conserving
landscaping with the goal of achieving silver from the U.S. Green Building Council’s Leadership in Energy
and Environmental Design (LEED) certification program. With the scarcity of retail opportunities in Far
SW-SE and the lack of affordable housing for homeownership in the District of Columbia, this highly
visible development will serve as an important keystone in the Bellevue community, helping serve the
basic needs of its local community.

FLORIDA

Rosene’s Success House
Arcadia, FL
Sponsored by: DeSoto Homeless Coalition, Inc. of Arcadia, FL
Member: RBC Centura Bank
Grant: $500,000 for 17 units
The Desoto County Homeless Coalition will use AHP funds for the construction of 17 rental units that will
be used for homeless families, many of whom have suffered from effects of domestic violence. It will be
operated by the DeSoto Homeless Coalition, a nonprofit agency whose mission is to house and provide
services to the local homeless. Total development cost is $2 million. The project will also be partially
funded with Florida Housing Finance Corporation Special Needs Housing Program funds.

Lakeside Park I
Avon Park, FL
Sponsored by: Avon Park Housing Development Corporation of Avon Park, FL
Member: RBC Centura Bank
Grant: $350,000 for 16 units
Avon Park Housing Development Corporation will use AHP funding to redevelop 16 public housing units
for homeless households. The project is part of a homeless consortium Continuum of Care program
and only involves grant source funding, including a project-based HUD Section 9 Annual Contribution
Contract. Total development cost is $700,000.

Old Orchard Village
Bowling Green, FL
Sponsored by: Affordable Housing Solutions for Florida, Inc. of Bay Harbor Island, FL
Member: SunTrust Bank
Grant: $500,000 for 50 units
Subsidized Loan: $500,000
AHP funding will be used to offset the cost of construction of 50 new rental units for low- and very low-
income and families on a rural site in Bowling Green, Florida. The units will be a mixture of one-, two-,
and three-bedroom styles. The project will be funded in part by Florida Housing Finance Corporation.

Chester’s Pointe
Bowling Green, FL
Sponsored by: Hardee County Housing Authority of Wauchula, FL
Member: SunTrust Bank
Grant: $500,000 for 20 units
Subsidized Loan: $200,000
AHP funding will be used toward the construction of 20 new rental units designed for senior occupancy
with priority given to frail elderly. The complex will be constructed on a vacant five-acre tract located in
Bowling Green, FL. The project will be partially funded with Florida Housing Finance Corporation Special
Housing Needs Funding.

Habitat Broward
Fort Lauderdale, FL
Sponsored by: Habitat for Humanity of Broward of Fort Lauderdale, FL
Member: Regent Bank
Grant: $210,000 for 30 units
In the spring of 2008 Habitat Broward will build a small, multi-home community on a 4.7-acre parcel of
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land in the City of Fort Lauderdale, Florida. This development project will consist of 30 single-family
homes that will be sold to qualifying low-income families. Habitat Broward will use the AHP grant from
FHLBank Atlanta to provide permanent mortgage principal reduction.

Elmwood Apartments
Fort Myers, FL
Sponsored by: Affordable Housing Solutions for Florida, Inc. of Bay Harbor Island, FL
Member: Bank of America Georgia, N.A.
Grant: $400,000 for 116 units
Subsidized Loan: $2,744,652
AHP funding will be used for the construction of 116 units for very low- and low-income families in Fort
Myers. The project is needed to keep the units affordable to the intended population. The Florida Housing
Finance Corporation will provide funds through Low-Income Housing Tax Credits.

Liberty Landing
Immokalee, FL
Sponsored by: Habitat for Humanity of Collier County, Inc. of Naples, FL
Member: Orion Bank
Grant: $350,000 for 50 units
Habitat for Humanity of Collier County (HFHCC) will use AHP funding for construction costs associated
with 50 homes in Liberty Landing, a subdivision that will provide a total of 150 homes for low and very
low-income families upon completion. Each villa-style (duplex) home will provide 1064 sq. ft. of living
space including three bedrooms and one bathroom. In Immokalee, the vast majority of new, single-family,
affordable homes that are deeded each year are built by Habitat for Humanity.

Trail Ridge II
Naples, FL
Sponsored by: Habitat for Humanity of Collier County, Inc. of Naples, FL
Member: Orion Bank
Grant: $350,000 for 50 units
Habitat for Humanity of Collier County will use AHP funding to provide down payment assistance to
homebuyers at the Trail Ridge community. To date, the entire infrastructure is complete and 60 homes
in Trail Ridge are complete and occupied. The 33-acre site will ultimately house 204 low- and very-low
income families.

Laurel Oaks
Okeechobee, FL
Sponsored by: Affordable Housing Solutions for Florida, Inc. of Bay Harbor Island, FL
Member: RBC Centura Bank
Grant: $500,000 for 80 units
AHP funds will be used to help with the cost of construction of 80 units for very low- and low-income
seniors in Okeechobee. The project will also be funded with LIHTC from the Florida Housing Finance
Agency and county hurricane relief funds and USDA Rural Development funds.

Pahokee Apartments
Pahokee, FL
Sponsored by: NOAH Development Corporation of Belle Glade, FL
Member: BankAtlantic
Grant: $288,000 for 24 units
AHP funding will be used for construction of 24 rental units for low- and very low-income families
displaced or affected by Hurricane Wilma and other hurricanes. The complex will consist of eight two-
bedroom units and 16 three-bedroom units. Additional funds will be provided by the Florida Housing
Finance Agency, Community Financing Consortium and Palm Beach County.

Bayou Pass Village Phase III
Ruskin, FL
Sponsored by: Florida Home Partnership, Inc. of Ruskin, FL
Member: Suncoast Schools Federal Credit Union

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Grant: $500,000 for 50 units
Bayou Pass Village Phase III is a 166 single-family unit subdivision currently under construction. AHP
funding will be used for site improvements, infrastructure and construction of 50 of the units, which will be
purchased by families under 80% of the AMI. The homes being built in Bayou Pass Village Phase III are
built utilizing the USDA Mutual Self Help Housing Program, requiring homebuyers to contribute 600 hours
of sweat equity labor assisting the construction of their homes in exchange for a down payment.

Grove Park
St. Petersburg, FL
Sponsored by: Boley Centers, Inc. of St. Petersburg, FL
Member: Synovus Bank of Tampa Bay
Grant: $146,721 for 15 units
Boley Centers will use AHP funding for the construction of 15 one-bedroom units that will provide housing
for individuals who are homeless or have very low incomes. The units will be modular duplex homes and
will provide a housing first model for individuals who are homeless, connecting them with services once
they are housed.

Palmetto Ridge Patio Homes
Titusville, FL
Sponsored by: Coalition for the Hungry and Homeless of Brevard County, Inc of Cocoa, FL
Member: Branch Banking and Trust Company
Grant: $500,000 for 46 units
AHP funding will be used for construction costs of the Palmetto Ridge Patio Homes in Titusville, FL. The
complex will consist of 54 condominium units, forty-six of which will be sold to households earning below
80% and below of the AMI. The units will be affordably priced to meet the demand of the local workforce
and other low- to moderate-income households.

Stenstrom Road Senior
Wauchula, FL
Sponsored by: Affordable Housing Solutions for Florida, Inc. of Bay Harbor Island, FL
Member: SunTrust Bank
Grant: $500,000 for 75 units
Subsidized Loan: $400,000
AHP funding will be used for construction of 75 apartment units for senior occupancy. The intended
residents are very low- and low-income seniors. The project will also utilize Florida Housing Finance
Corporation hurricane funds and Low-Income Housing Tax Credits. Total development cost is $10.1
million.

GEORGIA

People of Hope Manufactured Housing Community
Athens, GA
Sponsored by: Athens Land Trust, Inc. of Athens, GA
Member: First American Bank and Trust Company
Grant: $464,443 for 40 units
AHP funding will be used for construction by People of Hope, Inc (PoH), a nonprofit with the goal of
creating a manufactured housing community that honors the rights of homeowners who lease the land
their homes are on. The People of Hope Manufactured Housing Community will be Georgia’s first
resident-owned, permanently affordable manufactured housing project.

Atlanta Habitat for Humanity 2007
Atlanta, GA
Sponsored by: Habitat for Humanity in Atlanta, Inc. of Atlanta, GA
Member: SunTrust Bank
Grant: $350,000 for 70 units
Habitat for Humanity in Atlanta, Inc. (Atlanta Habitat) will use AHP funding for down payment and closing
cost assistance to 70 single-family homebuyers. The houses will be constructed by Atlanta Habitat and
range in size from two to four bedrooms. Atlanta Habitat sells each home to a qualified, low- or very low-

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income, first-time homebuyer through a 30-year no-interest loan.

Hillside Apartments
Atlanta, GA
Sponsored by: RBC Development, LLC of Decatur, GA
Member: SunTrust Bank
Grant: $450,000 for 38 units
RBC Development LLC will use AHP funding for the redevelopment of Hillside Apartments, which will be a
38-unit apartment complex specifically designed to empower and assist homeless women and homeless
women with children. The development will consist of 36 two-bedroom units and two handicapped
accessible one-bedroom units, a property management office and a support services office. The income
level for the residents will not exceed 50% of the AMI.

Southwest Georgia Housing Rehabilitation Project
Baker, Calhoun, Colquitt, Decatur, Early, Grady, Lee, Miller, Mitchell, Seminole, Terrell, Thomas,
and Worth Counties, GA
Sponsored by: Southwest Georgia Community Action Council, Inc. of Moultrie, GA
Member: Southwest Georgia Bank
Grant: $420,000 for 70 units
Affordable Housing Program funds will be used for housing repair assistance for approximately 185
individuals in 70 very low-income households. Funds will be combined with USDA Rural Development
Housing Preservation Grant Program funds to address major housing repair issues. At least 60% of the
households served will be comprised of the elderly (60 years and older).

Senior Connections Urban Rehabilitation (Cobb/Gwinnett)
Cobb and Gwinnett Counties, GA
Sponsored by: Senior Connections of Chamblee, GA
Member: United Community Bank
Grant: $500,000 for 50 units
The Senior Connections Home Repair Department will use AHP funding for the rehabilitation of 50 homes
primarily in Cobb and Gwinnett counties. The assistance will be provided to very low-income senior
homeowners aged 60 years and older who occupy and have title to their residences. AHP funds will be
used for small- to medium-scale home repairs to assist these seniors in aging in place.

Senior Connections Urban Rehabilitation (DeKalb)
Dekalb County, GA
Sponsored by: Senior Connections of Chamblee, GA
Member: United Community Bank
Grant: $500,000 for 50 units
The Senior Connections Home Repair Department will use AHP funding for the rehabilitation of 50 homes
in DeKalb County and City of Atlanta Renewal Communities. The assistance will be provided to very low-
income senior homeowners aged 60 years and older who occupy and have title to their residences. AHP
funds will be used for small- to medium-scale home repairs to assist these seniors in aging in place.

Senior Connections Urban Rehabilitation (Fulton)
Fulton County, GA
Sponsored by: Senior Connections of Chamblee, GA
Member: United Community Bank
Grant: $500,000 for 50 units
The Senior Connections Home Repair Department will use AHP funding for the rehabilitation of 50 homes
in the City of Atlanta. The assistance will be provided to very low-income senior homeowners aged
60 years and older who occupy and have title to their residences. AHP funds will be used for small- to
medium-scale home repairs to assist these seniors in aging in place.

Allen Wilson Terrace Phase I
Decatur, GA
Sponsored by: Housing Authority of the City of Decatur, Georgia of Decatur, GA
Member: Fidelity Bank

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Grant: $500,000 for 40 units
Affordable Housing Program funding will be used to redevelop the first 40 units in a multi-phase
rehabilitation of an existing 200-unit public housing site built in the 1940’s. The three-phase project
includes demolition of the existing 22 buildings and construction of nine buildings which will have 207
units upon completion. All units are designated as public housing, and development of three acres of the
7.69-acre site as condominiums. The new development creates a separate four-story (85-unit) building
specifically designed for seniors, which will include handicapped-accessible units.

Pepper Ridge II
Fort Gaines, GA
Sponsored by: Southwest Georgia Housing Development Corporation of Cuthbert, GA
Member: Regions Bank
Grant: $360,000 for 36 units
AHP funds will be used for rehabilitation of a 36-unit apartment community built in 1982 with funding
from the USDA. The project requires substantial repairs and USDA Rural Development has committed
$540,000 for the rehabilitation and permanent financing.

Building a Village for Hopes, Lives and Dreams II
Greensboro, GA
Sponsored by: Greene County Habitat for Humanity of Greensboro, GA
Member: BankSouth
Grant: $334,134 for 6 units
As the only builder of homes for low-income families in Greensboro, GA, Greene County Habitat for
Humanity (GCHFH) will use AHP funds for constructing 17 homes on a contiguous parcel of land to create
a Habitat Village. The first phase will include land, infrastructure, and the construction of six homes.

Castor Village
Norcross, GA
Sponsored by: The IMPACT! Group of Duluth, GA
Member: Branch Banking and Trust Company
Grant: $300,000 for 92 units
AHP funds will be used for rehabilitation of Castor Village, a 92-unit rental community consisting of 86
two-bedroom units and six three-bedroom units. The project will be completed in stages, beginning with
42 vacant units undergoing substantial rehabilitation to restore these units to leasable conditions.

Rural Single Family Housing Development
Pembroke, GA
Sponsored by: JCVision and Associates, Inc of Hinesville, GA
Member: First Citizens Bank
Grant: $305,850 for 10 units
JCVision will use AHP funding for construction of 10 affordable homes in Pembroke, GA, a city with very
limited housing options that anticipates a 35% increase of its population within the next three years due to
recent construction approval of two industrial plants. Each home will have three or four bedrooms, and be
wheelchair-accessible. Homebuyer subsidies of $5,000 to $20,000 will be available as granted through
the Georgia DCA DREAM HOME Program and sales proceeds will be reinvested into future affordable
housing development projects in the city.

Fresh Start
Savannah, GA
Sponsored by: Old Savannah City Mission of Savannah, GA
Member: The Carver State Bank
Grant: $250,000 for 28 units
Old Savannah City Mission (OSCM) will use AHP funding to renovate 3,668 square feet of available
space to create 28 double-occupancy units. The units will be used to house Fresh Start residents, who
are formerly incarcerated individuals who have demonstrated a strong desire to become productive,
useful citizens. This project will expand OSCM’s transitional housing capacity from 22 to 50 units.




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Housing Services of Union Mission
Savannah, GA
Sponsored by: Union Mission, Inc. of Savannah, GA
Member: First Chatham Bank
Grant: $300,000 for 48 units
Union Mission of Savannah will use AHP funding to build 48 apartments for low-income families emerging
from homelessness. The complex will include housing and support services designed to assist those with
issues presenting chronic or significant barriers to self-sufficiency, including HIV/AIDS, disabling health
issues, substance abuse, and mental health issues. The Georgia Department of Community Affairs will
provide $5,154,000.

MARYLAND

St. Ambrose Intervention Buying
Baltimore, MD
Sponsored by: St. Ambrose Housing Aid Center, Inc. of Baltimore, MD
Member: Bradford Bank
Grant: $200,000 for 20 units
St. Ambrose Housing Aid Center will utilize AHP funding to reduce the permanent mortgage principal
for 20 new homeowners by $10,000. Each grant will result in a dollar-for-dollar mortgage principal price
reduction on one of St. Ambrose’s renovated homes, typically three-bedroom townhomes and semi-
detached homes built after 1940 in historically stable working-class neighborhoods in North, Northeast,
and Southwest Baltimore.

East Baltimore Good Neighbor Initiative: Phase I
Baltimore, MD
Sponsored by: Chesapeake Habitat for Humanity of Baltimore, MD
Member: Bradford Bank
Grant: $300,000 for 30 units
Chesapeake Habitat for Humanity will use AHP funding for purchase and building or renovation of 30
properties in East Baltimore. The majority of projects will be rehabilitations of existing homes and will use
new, high-quality materials and to ensure that the property exteriors conform to the existing character of
the neighborhood. All homes will be sold affordably with no-interest mortgage loans to qualified applicants
who earn 25% to 50% of the AMI, live in current conditions of housing need, and agree to contribute 300
hours of sweat equity.

The Senior Housing Community at Rolling Road
Catonsville, MD
Sponsored by: Enterprise Housing Corporation of Baltimore, MD
Member: SunTrust Bank
Grant: $373,500 for 83 units
Enterprise Housing Corporation will use AHP funds for construction of The Senior Housing Community
at Rolling Road, which will consist of 83 units of independent senior rental apartments in the Woodlawn
neighborhood of Baltimore County, MD. The structure will be a three-story, wood-frame building with
65 one-bedroom and 18 two-bedroom units. The Senior Community is planned as a green building with
all of the attendant green requirements such as proximity to multiple means of transportation, use of
environmentally friendly features such as low-VOC paints and primers, and energy efficient features such
as Energy-Star appliances.

Somerset Commons
Princess Anne, MD
Sponsored by: Shelter Development, LLC of Baltimore, MD
Member: SunTrust Bank
Grant: $100,000 for 60 units
AHP funding will be used to acquire land for Somerset Commons, a new 60-unit garden apartment
community. Somerset Commons will be a community of two three-story buildings containing a total of 36
two-bedroom units and 24 three-bedroom units. Six of the units will be constructed as fully handicapped-
accessible units. Wal-Mart has just purchased land directly southwest of Somerset Commons to construct

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and operate a distribution center which will create approximately 800 new jobs in Princess Anne,
heightening the need for the quality, affordable work force housing that Somerset Commons will provide.
Additional funds provided by the Maryland Department of Housing and Community Development.

NORTH CAROLINA

The Arbors at Winmore
Carrboro, NC
Sponsored by: United Housing Associates, Inc. of Columbia, SC
Member: Bank of America Georgia, N.A.
Grant: $250,000 for 58 units
Subsidized Loan: $1,990,000
AHP funds will be used for the construction of 58 units for very low- and low-income families in Carrboro.
Sixty percent of the units will be reserved for very low-income households. Units will be designed to meet
North Carolina Housing Finance Agency Low-Income Housing Tax Credit standards for features and
amenities.

River’s Retreat at Elizabeth Crossing
Elizabeth City, NC
Sponsored by: DBT Developers, LLC of Aynor, SC
Member: Branch Banking and Trust Company
Grant: $240,000 for 40 units
AHP funds will be used as gap financing for construction and soft costs associated with building River’s
Retreat at Elizabeth Crossing, a 40-unit independent senior living community offering a safe and
affordable place for seniors of Elizabeth City and the surrounding area. River’s Retreat will be built
adjacent to River’s Edge at Elizabeth Crossing, a 56-unit family property which received AHP funding in
the first offering of 2007.

Haliwa-Saponi Rehabilitation III
Halifax and Warren, NC
Sponsored by: Haliwa-Saponi Indian Tribe of Hollister, NC
Member: RBC Centura Bank
Grant: $250,000 for 32 units
The Haliwa-Saponi Indian Tribe will use funds from the Affordable Housing Program to manage a two-
year project to provide rehabilitation services to 32 eligible households. Under this program the tribe
rehabilitates owner-occupied dwellings for very low- and low-income tribal members. Tribal members who
qualify are eligible for up to $20,000 in assistance.

A.L. Harris Subdivision
Henderson, NC
Sponsored by: Gateway Community Development Corporation of Henderson, NC
Member: Branch Banking and Trust Company
Grant: $89,100 for 9 units
Gateway Community Development Corporation will use AHP funding to provide permanent mortgage
principal reduction for nine homes in Phase II of its A.L. Harris subdivision. Phase I housed 21 low- and
moderate-income families. Subsidies will be provided in the form of USDA low-interest loans (0-6%
interest) and AHP grants. Wetlands adjacent to the building site within A.L. Harris will be sold to the
Black Family Land Trust for permanent protection and will provide a passive recreational amenity for the
neighborhood and an outdoor classroom for school children, with trails and interpretive signage.

Cardinal Ridge
Hillsborough, NC
Sponsored by: North Carolina Housing Foundation, Inc. of Winston-Salem, NC
Member: Branch Banking and Trust Company
Grant: $432,000 for 72 units
AHP funds will be used to construct a 72-unit, family-oriented property to be located in Hillsborough,
NC. The property will consist of eight one-bedroom, 40 two-bedroom, and 24 three-bedroom apartments
planned for families with incomes between 30-60% of the AMI.

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Kannapolis Revitalization Project
Kannapolis, NC
Sponsored by: Prosperity Unlimited, Inc. of Concord, NC
Member: First Bank
Grant: $70,000 for 14 units
AHP funds will be used for the development of 14 homes built on a deserted tract of property. To help in
this project the City of Kannapolis will provide $650,500 in Community Development Block Grant funds
and other loans for the acquisition and construction of nine of the lots and First Bank will loan $800,000
for acquisition. The development will include market rate homes.

East Cornwallis Sustainable Housing
Pittsboro, NC
Sponsored by: Chatham Habitat for Humanity of Pittsboro, NC
Member: Branch Banking and Trust Company
Grant: $120,000 for 15 units
Chatham Habitat for Humanity (HFH) will use AHP funding for a 15-unit subdivision in the East Cornwallis
neighborhood in Pittsboro. The five-acre property has been donated to Chatham HFH by Chatham
County, and will be developed into 15 lots for affordable housing. All lots will be built by Chatham HFH in
partnership with families earning 80% and below of area median income.

Bellemont Oaks
Pittsboro, NC
Sponsored by: North Carolina Housing Foundation, Inc. of Winston-Salem, NC
Member: SunTrust Bank
Grant: $432,000 for 72 units
AHP funding will be used for construction costs at Bellemont Oaks, a 72-unit property to be located in
Pittsboro, NC. The property will consist of eight one-bedroom, 40 two-bedroom, and 24 three-bedroom
apartments and will be marketed to families with incomes between 30-60% of the AMI.

Crossroads Rescue Mission
Shelby, NC
Sponsored by: Crossroads Rescue Mission of Shelby, NC
Member: The First National Bank of Shelby
Grant: $350,000 for 65 units
The AHP grant will be used for construction of the Crossroads Rescue Mission, a nonprofit group
providing housing for the homeless. The project will preserve 35 units at the mission’s current location
and add another 30 units, for a total of 65 housing units.


Ridgeland Terrace
Yadkinville, NC
Sponsored by: DBT Developers, LLC of Aynor, SC
Member: Branch Banking and Trust Company
Grant: $192,000 for 48 units
AHP funds will be used for construction and soft costs associated with the development of Ridgeland
Terrace, a 48-unit family community offering a safe and affordable place for the citizens of Yadkinville.

SOUTH CAROLINA

CDIC’s Owner Occupied Rehabilitation Program
Aiken, Edgefield, Saluda, and Lexington, SC
Sponsored by: Community Development and Improvement Corporation of Aiken, SC
Member: First Citizens Bank and Trust Company, Inc.
Grant: $300,000 for 40 units
Community Development and Improvement Corporation (CDIC) will use AHP funding for costs associated
with a new Owner-Occupied Rehabilitation Program designed to assist very low-income seniors in
correcting severe problems with their homes. AHP funding will be used in conjunction with South Carolina
State Housing Finance and Development Authority funding, as well as United States Department of

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Agriculture (USDA) Section 504 Rehabilitation funds.

Allendale County Rehabilitation II
Allendale, SC
Sponsored by: Allendale County ALIVE, Inc. of Allendale, SC
Member: Palmetto State Bank
Grant: $120,000 for 20 units
Allendale County ALIVE will use AHP funds for rehabilitation of 20 owner-occupied homes for citizens
of Allendale County, SC. ALIVE’s goal is to leverage other rehabilitation funding sources to create
affordable homeownership for very low-, low-, and moderate-income households.

Hallmark Homes at Bluffton
Bluffton, SC
Sponsored by: United Housing Associates, Inc. of Columbia, SC
Member: RBC Centura Bank
Grant: $500,000 for 72 units
AHP funding will be used for construction costs of 72 units of rental housing for very low- and low-
income families in Bluffton, SC. Funding is committed by The South Carolina State Housing Finance and
Development Authority, the county and the member bank.


Clark Street Commons
Greenville, SC
Sponsored by: The Housing Authority of the City of Greenville, SC of Greenville, SC
Member: Branch Banking and Trust Company
Grant: $500,000 for 96 units
The Housing Authority of the City of Greenville will combine AHP funds with an existing HOPE VI
revitalization grant to fund The Clark Street Commons. This new development will consist of 96 units
for families, of which 24 will be three-bedroom duplex units and 5% will be ADA-compliant. The project
site is two miles southeast of downtown Greenville in a primarily residential community, within the Jesse
Jackson Townhomes public housing development.

Fulghum Project
Ridgeland, SC
Sponsored by: Hilton Head Regional Habitat for Humanity of Bluffton, SC
Member: CoastalStates Bank
Grant: $55,000 for 10 units
Hilton Head Regional Habitat for Humanity will use AHP funding to build ten houses on 3.65 acres
(Fulghum Property) in Ridgeland, SC. The organization already owns the property and will assume
responsibilities for selling the properties to families who earn between 20% and 60% of the area median
income. All homeowner mortgage payments go toward building more houses for people in need.

TENNESSEE

Preservation Pointe
Johnson City, TN
Sponsored by: Eastern Eight Community Development Corporation of Johnson City, TN
Member: The First Bank and Trust Company
Grant: $120,000 for 12 units
Eastern Eight Community Development Corporation will utilize AHP funds for construction costs for the
Preservation Pointe affordable housing development, which will include a mix of duplex- and single-family
units.




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VIRGINIA

Abingdon Green
Abingdon, VA
Sponsored by: Southwest Virginia Housing Corporation of Abingdon, VA
Member: Highlands Union Bank
Grant: $180,000 for 32 units
The Abingdon Green project consists of the acquisition and rehabilitation of a 32-unit brick apartment
community located in four buildings on 1.9 acres originally developed as a USDA Rural Development
515 project. The apartments are garden-style one-bedroom units. Renovations will be made in an
environmentally conscious manner and upon completion the property will be EarthCraft-Virginia and
LEED rated. In an effort to preserve affordable housing in this region, apartments will be rented to
households earning 50-60% of the AMI.

Thomas Jefferson Community Workforce Housing
Albemarle, Louisa, Nelson, Fluvanna, and Greene, VA
Sponsored by: Piedmont Housing Alliance of Charlottesville, VA
Member: Branch Banking and Trust Company
Grant: $394,500 for 41 units
The Thomas Jefferson Community Workforce Housing project will use AHP funding to provide down
payment assistance to help area workers afford to buy homes in the communities they serve. Affordable
financing, along with comprehensive housing counseling, will create more homeownership opportunities
for the local workforce. Most funds will be used for first-time homebuyers in rural areas earning below
50% of the AMI, although some funds will also be available for households earning up to 80% of the AMI.

Housing Rehabilitation Program
Buchanan, Dickerson, Russell, and Washington, VA
Sponsored by: People Incorporated of Southwest Virginia of Abingdon, VA
Member: Highlands Union Bank
Grant: $100,000 for 20 units
People Incorporated will use AHP funding to complete 20 owner-occupied rehabilitation projects located
on scattered sites in the Virginia counties of Buchanan, Dickenson, Russell, and Washington, and the City
of Bristol. Five of the program’s twenty units will be a part of a joint effort of the Department of Housing
and Community Development (DHCD) and People Incorporated.

Hillcrest Manor
Buena Vista, VA
Sponsored by: Mark-Dana Corporation of The Woodlands, TX
Member: Branch Banking and Trust Company
Grant: $215,900 for 40 units
AHP funding will be used in the acquisition of a 40-unit garden-style apartment project, Oak Hill
Apartments, constructed in 1987 under the USDA Rural Development (formerly known as Farmers Home
Administration) 515 program. Funds will also be used for rehabilitation of the property.

Senior Home Repair Program
Chesterfield, Henrico, Petersburg City, Richmond City, and Charles City, VA
Sponsored by: ElderHomes Corporation of Richmond, VA
Member: SunTrust Bank
Grant: $418,750 for 133 units
AHP funds will be used to repair 58 roofs and replace another 15 roofs on 73 homes owned and occupied
by low-income seniors and people with disabilities in central Virginia. AHP funding will create eligibility to
use matching money to provide additional home repair and rehab services for these 73 households, as
well as 60 more homes.

New Road Village III
Exmore, VA
Sponsored by: New Road Community Development Group of Exmore, Inc. of Exmore, VA
Member: Shore Bank

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Grant: $104,000 for 16 units
AHP funding will be utilized in the construction of New Road Village, a planned 16-unit affordable rental
complex located on six lots interspersed among homeownership lots in the New Road Community of
Exmore, Virginia. The new rental units are primarily duplexes with two larger lots each having four units.
These units will house both elderly and younger families. There will be four one-bedroom apartments,
eight two-bedroom apartments, and four three-bedroom apartments.

Rush Creek Housing Rehabilitation Project
Glade Spring, VA
Sponsored by: People Incorporated of Southwest Virginia of Abingdon, VA
Member: Highlands Union Bank
Grant: $75,000 for 15 units
People Incorporated of Southwest Virginia will use AHP funds to help alleviate substandard housing
problems in the Rush Creek area of Washington County, Virginia. Funding will supplement and enhance
planned rehabilitation efforts for 15 moderate- to extremely low-income households; nine homes will be
substantially reconstructed, and six will receive basic rehabilitation services.

Habitat Builds Homes
Hampton City and Newport News City, VA
Sponsored by: Peninsula Habitat for Humanity of Newport News, VA
Member: The Old Point National Bank of Phoebus
Grant: $42,500 for 5 units
AHP funds will be used for permanent mortgage principal reduction by Habitat for Humanity Peninsula,
which has completed 96 homes on the Peninsula (Hampton, James City County, Newport News,
Poquoson, Williamsburg, and York County, Virginia), with construction beginning on our 100th house this
year. Individuals qualify to purchase a Habitat home by applying for homeownership, having good credit
history, meeting household income guidelines (30%-50% median income) and completing 400 hours of
“sweat equity” on their home. Our homes are modest, averaging 1,200 square feet, with three bedrooms
and two bathrooms.

Covenant Heights - Phase II
Harrisonburg, VA
Sponsored by: Hope Community Builders of Harrisonburg, VA
Member: United Bank
Grant: $105,000 for 21 units
Hope Community Builders will use AHP funding for closing costs at a mixed-income development of 42
units. 21 units will be sold to homebuyers at or below 60% of the AMI and 21 will be sold at market prices.
All homes will be certified by EarthCraft Virginia.

Angelwood Development Phase II
King George, VA
Sponsored by: Project FAITH, Inc. of King George, VA
Member: Union Bank and Trust Company
Grant: $160,000 for 32 units
Affordable Housing Program funding will be used for construction of Angelwood Phase II, which will
consist of 32 one-, two-, and three-bedroom rental units. The project will be built utilizing the principles of
“green building.” Angelwood Phase II will accommodate residents with disabilities and low-income elderly
individuals.

Norton Green
Norton City, VA
Sponsored by: Southwest Virginia Housing Corporation of Abingdon, VA
Member: The First Bank and Trust Company
Grant: $200,000 for 40 units
Southwest Virginia Housing Corporation will use AHP funds for the acquisition and rehabilitation of Norton
Green, a 40-unit brick apartment community originally developed as a USDA Rural Development 515
project. The apartments are garden-style, one-bedroom units. Upon completion, the property will be
EarthCraft-Virginia and LEED rated.


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Pulaski Village
Pulaski, VA
Sponsored by: Southwest Virginia Housing Corporation of Abingdon, VA
Member: The First Bank and Trust Company
Grant: $220,000 for 44 units
AHP funding will be used to acquire and rehabilitate the Pulaski Village, a 44-unit brick apartment
community originally developed as a USDA Rural Development 515 project. The apartments are garden-
style, one-bedroom units. Upon completion, the property will be EarthCraft and LEED rated.

New Gilmer Project
Roanoke, VA
Sponsored by: Blue Ridge Housing Development Corporation of Roanoke, VA
Member: First- Citizens Bank & Trust Company
Grant: $80,400 for 6 units
Blue Ridge Housing (BRH) will use AHP funds to support the New Gilmer Project, part of a revitalization
project in Gainsboro, Roanoke City’s oldest neighborhood. BRH owns several vacant lots and plans to
construct six single-family houses which will be sold to low- and moderate-income first-time homebuyers.
BRH will prepare AHP-assisted clients to purchase through Homeward Bound, a comprehensive home-
buying program.

College Green II
Warsaw, VA
Sponsored by: Community Housing Partners Corporation of Christiansburg, VA
Member: Branch Banking and Trust Company
Grant: $85,000 for 16 units
AHP funds will be used for rehabilitation and building enhancements at the College Green II Apartments,
a 16-unit property originally developed with funding through the USDA Rural Development 515 Program.
There will be one unit that is fully accessible to someone in a wheelchair as well as one unit prepared
for sight and hearing impaired persons. The rehabilitation will be EarthCraft-Virginia certified upon
completion.

WEST VIRGINIA

Chelyan Village Apartments
Cabin Creek, WV
Sponsored by: Telamon Corporation of Raleigh, NC
Member: Branch Banking and Trust Company
Grant: $500,000 for 48 units
Telamon Corporation will use AHP funding for the acquisition and rehabilitation of 48 rental units for the
elderly at Chelyan Village Apartments, a USDA Rural Development 515 project. AHP funds will be used
for construction and permanent financing.

Baker Heights Apartments
Martinsburg, WV
Sponsored by: Telamon Corporation of Raleigh, NC
Member: Branch Banking and Trust Company
Grant: $500,000 for 56 units
Telamon Corporation will use AHP funding for costs associated with the rehabilitation of a 56-unit USDA
Rural Development 515 family complex located in Martinsburg, West Virginia.

West Main Street II
Ronceverte, WV
Sponsored by: Southeastern Appalachian Rural Alliance, Inc. of Lewisburg, WV
Member: Branch Banking and Trust Company
Grant: $24,000 for 3 units
Southeastern Appalachian Rural Alliance will use AHP funding to develop one triplex in Ronceverte,
WV. The Southeastern Appalachian Rural Alliance is addressing the high cost of housing in the area by
providing help through single family homeownership, home repair and rental projects.

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