There will be a groundbreaking for the 65-unit Southern Crossing subdivision from 11:30 a.m. to 1 p.m. Wednesday at 38th Avenue and Ohio Street.
Pine Bluff Housing Authority through its affiliate, Crossroads Development LP, closed July 18 on the $10.7 million in financing required to start construction on the project.
Southern Crossing, once completed, will provide affordable three- and four-bedroom, two-bath, single-family housing units that will average 1,300 square feet and have attached two-car garages, carpet throughout the living areas, vinyl in the kitchens and baths, ceiling fans in each room, fully applianced kitchens, a washer and dryer and rear patios for family gatherings.
In 2009 the Board of Commissioners unanimously voted to proceed with the project, with the goal of providing more affordable rental properties in Pine Bluff. In December 2009 the board selected SE Clark & Associates Inc. to lead the project.
The project has been made possible by:
• A letter of credit from Simmons Bank, Board Chairman Tommy May;
• An award of Affordable Housing Tax Credits, HOME Funds and CDBG Funds from the Arkansas Housing Development Finance Authority;
• A permanent loan, backed by the U.S. Department of Housing & Urban Development through Prudential Hooton Paige, a HUD mortgage lender;
• And Alliant Capital Group, an equity partner that is purchasing the Affordable Housing Tax Credits.
Details: Steve Ficklin at (501) 838-1100. Leasing information: City of Pine Bluff Housing Authority at (870) 541-0706