Reviewed by: Audrey Johnson
Funding secured for new 80-unit Arbours at Moore’s Mill apartments
An affordable housing community for seniors is coming to fruition in Huntsville, as funding has been secured for the Arbours at Moore’s Mill through United Bank.
United Bank has provided $250,000 in soft financing to Arbour Valley Development for the construction of Arbours at Moore’s Mill. Here’s what we know:
Arbours at Moore’s Mill
Arbours at Moore’s Mill is an 80-unit affordable housing complex for elderly residents 62 and older in Huntsville. The soft financing is funded through United Bank’s 2020 Capital Magnet Fund award from the CDFI Fund division of the US Treasury Department.
Once completed, the complex will offer one- and two-bedroom units. The complex, located at 100 Marcus Byers Dr., will also include:
- A clubhouse featuring a community laundry facility, indoor fitness center, Wi-Fi lounge and business center.
- An outdoor barbeque and picnic area with landscaped courtyard will also be available for residents’ use.
- The new complex will be convenient to shopping and other amenities.
More information on Arbour Valley Communities and the “Arbours communities” in other cities can be found on the company’s website.
Addressing a local housing problem
Complexes and projects like Arbours at Moore’s Mill address a growing issue in the Huntsville area. Madison County has seen a 60 percent increase of people over 65 in the past 10 years.
United Bank has provided funding for other senior living projects in southern Alabama and Georgia in the last year.
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