New housing development in Donalsonville
Published 9:15 pm Friday, March 5, 2010
Partnership Housing Affordable to Society Everywhere (PHASE), Seminole County Partnership Development, and Seminole County Training School (SEMCO) had their groundbreaking for Friendship Crossings on Thursday, Feb. 25, in Donalsonville, Ga.
Friendship Crossings, the first new affordable housing development in the Donalsonville area in more than 30 years, is located at 1405 S. Friendship Ave.
The 40-unit multi-family development is designed to allow tenants to lease units for 15 years before assuming ownership.
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During the initial 15-year compliance period, the project will be operated and maintained by Seminole County Partnership Development, with PHASE serving as the managing member.
During the lease purchase period, PHASE and SEMCO will conduct homeownership classes and homebuyer workshops for participating families desiring homeownership.
PHASE partnered with Seminole County Partnership Development, SEMCO, Branch Banking and Trust Company and the Federal Home Loan Bank of Atlanta (FHLBank Atlanta) to cause Friendship Crossings. FHLBank Atlanta provided a $375,000 affordable housing program subsidy toward the $5.4 million development.
PHASE also utilized stimulus funds through the American Recovery and Reinvestment Act and Housing and Urban Development (HUD) Home.