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Arbor Terrace SRO
This project involved acquisition and conversion of a former extended stay hotel into a Single Room Occupancy (SRO) housing facility serving formerly homeless and very low income single persons.
| Development: | Arbor Terrace SRO |
| Award Recipient: | Foundation Communities |
| Development Profile: | Rental housing; acquisition and conversion of a former extended stay hotel into a Single Room Occupancy (SRO) housing facility serving formerly homeless and very low income single persons. |
| Total Housing Units: | 120 (25 Permanent Supportive Housing units) |
| Investment Impact: | 120 affordable housing unit at 99 years |
| Affordability: | 50% median family income or less |
| Location: | 2501 South IH 35 |
| Source of Funding: | General Obligation Bonds and CDBG |
| Amount Awarded: | $898,934 (GO Bonds) and $1,101,066 (CDBG). Total funding $2,000,000. |
| Date approved by AHFC Board: | December 9, 2010 |
| Project Status: | Renovations Complete. Opened August 2012 |
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