Opening Doors on Creel Road

AHFA just closed a $28 million bond issue to finance the acquisition and new construction of a 100-unit complex to be known as Creel Road Apartments in Mobile County, Alabama. In addition to AHFA bond financing, AHFA awarded federal Housing Credits resulting in an over $15 million equity infusion to the project after the syndication of the credits by Synovus Bank. With the addition of this project, Elmington, led by Hunter Nelson, has developed three projects comprising over 475 affordable housing units in Alabama.