Posted June 01, 2016
Clarion cove apartments held their grand opening celebration Thursday, Sept. 24.
State Senator Jim McClendon was one of the many that attended the ribbon-cutting event. The senator delivered a brief message voicing his appreciation to all those responsible for making this apartment complex a reality. These apartments in existence because of a tax credit financing plan. This plan ensures manageable rent prices, which are paid in full by residents.
The Alabama housing finance authority is responsible for the management of these properties. These duties include setting rent rates, orchestrating inspections and conducting annual independent audits.
The total development cost of the complex was $9,396,968. Through the construction of the complex, 65 new jobs were created and 30 companies and employees benefitted from the construction.
Clarion Cove is currently home to 19 retirees. In addition to these residents, its tenants also include residents employed with local medical facilities, law enforcement agencies, and educations fields among others.