Cordele housing projects awarded thousands in grant money
A housing development in Cordele was awarded thousands of dollars in grant money as part of the Affordable Housing Program.
Sunset Homes Comprehensive Renovations Phase I, which is sponsored by The Housing Authority of the City of Cordele, was awarded $160,000 for 16 rental units. The total cost of the development is $2,104,900.
The funds will be used to rehabilitate four buildings in the City of Cordele’s Sunset Homes Community. The project will consist of a gut renovation of four buildings which will then be reconfigured into townhouse style apartments.
Another project in Cordele awarded grant money was the SW GA United 2012 Project 1, sponsored by the Southwest Georgia United Empowerment Zone, Inc. Grant money totals $127,731 for 10 rental units. The total development cost is $421,130.
Funds will be used for the rehabilitation of 10 rental units on scattered sites in Cordele. The project supports foreclosure recovery efforts by eight of the units being previously foreclosed properties. The project rehabilitation will include improvements to a tri-plex building, conversion of a single-family building to duplexes and renovations to several single-family rental properties.
Federal Home Loan Bank of Atlanta announced Wednesday that it will award $787,731 to assist in funding three affordable housing developments in Georgia.
The funding is part of $13.6 million that FHLBank Atlanta will award in
10 states and the District of Columbia in an effort to create or preserve 2,265 units of "affordable rental and ownership housing."