HUNTSVILLE – The Huntsville City Council approved a move at its regular meeting Thursday night that is designed to improve living conditions at one senior low-income rental housing facility.
The council voted to authorize $4 million in Emergency Rental Assistance (ERA2) Program funds to Meridian Commons Ltd., which owns the Huntsville Summit Apartments. At the corner of Walker Avenue and Meridian Street, the building contains 100 units for senior and low-income households.
Scott Erwin, manager of Huntsville’s Community Development Department, said the building that was built in 1979 is a perfect candidate for the program.
“This property needs a significant capital investment to continue serving low-to-moderate-income residents and ensure ADA accessibility,” he said. “Additionally, the overall improvements will benefit everyone from the residents who live there to the surrounding neighborhood.”
The $4 million in funding will leverage an additional $23 million investment by Meridian Commons and its partner, Neighborhood Concepts Inc., for a total property investment of $27 million.
Erwin said the work on the rehabilitation project should begin in fall 2024 and take about a year to complete.
The ERA2 Program is funded by the U.S. Department of the Treasury, which set aside $2.5 billion for eligible grantees. Funds were distributed to states and local governments with more than 200,000 residents.
In early November, the city announced funds would be available for eligible projects and urged property owners to apply. Eligible properties were required to service low-income families at or below 50 percent of the area median income and conform to requirements of the Low-Income Housing Tax Credit Program, which uses tax credits to encourage private developers to build affordable housing.
Visit www.huntsvilleal.com to learn more about the ERA2 program.
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