Montgomery, AL — The City of Montgomery, the Community Action Partnership of North Alabama (CAPNA), the Bennett Group, Regions Bank, the Alabama Housing Finance Authority (AHFA), the Federation of Appalachian Housing Enterprises (FAHE), and other community partners, celebrated the ribbon cutting of Freedom Village, a new affordable housing development for residents aged 55 and older.
Located off Edgar D. Nixon Avenue behind historic Lanier High School, Freedom Village features 56 two-bedroom apartments in a three-story, elevator-serviced building. The development provides safe, accessible, and affordable homes for seniors, including units reserved for individuals with disabilities and those experiencing homelessness.
The project represents an $18.2 million investment in Montgomery’s economy, supported through a combination of federal, state, local, and private resources. Financing included $1.1 million in HOME Loan funds from the City of Montgomery, $1.3 million from AHFA, $13.4 million in equity from Regions Bank, and a $12.6 million construction loan from FAHE. The City of Montgomery also donated the excess land where Freedom Village now stands. The project created 216 temporary jobs and two permanent positions…