Current Projects

Hunter Ridge Apartments

Irondale, AL

Hunter Ridge Apartments is a 200-unit property in Irondale, AL, located east of Birmingham. The complex consists of one-, two- and three-bedroom units. Hall Housing Investments of Dothan developed the property using the 4% tax credit / bond program of the Alabama Housing Finance Authority (AHFA).

Hall Housing Investments completed construction in 2005. The property is 100% occupied, with a waiting list of approximately 60 qualified families.

Project description

Affordable one-two and three-bedroom units; rents range from $516 for a one bedroom, to $707 for a three bedroom. Amenities include a pool, playground and clubhouse.

Developer

Gary Hall is the principal in Shelby Hall Apts., Ltd. I. Mr. Hall’s company, Hall Housing Investments, is based in Dothan. He is an experienced developer and manager of tax credit and affordable properties in Alabama and Georgia.

Financial Information

Multifamily Refinance:

Cash-Flow Subordinated Mortgage Loan, Housing Enterprise of Central Alabama -- $1,125,000

Alabama Housing Finance Authority Multifamily Revenue Bonds supported by Freddie Mac credit facility -- $10,550,000

Collateral Mortgage Capital -- Freddie Mac conduit lender

Merchant Capital Corporation – AHFA bond underwriter