“Fall into Safety” at Dupont Landing

This news item was shared with us by Boyd Management, Inc.

Aiken, SC – Dupont Landing recently hosted a “Fall into Safety” event with participation from local organizations in Aiken, South Carolina. Residents were greeted by Aiken Public Safety and manager Stephanie Snoberger, and received safety brochures, raffle tickets, and a magnet with emergency numbers. Security Federal Bank was on hand to help provide residents with information on renter’s insurance. The Southeast Ballet Company, a local 501 group that provides dance class scholarships to low income students, even came to the property to perform for the residents! After the performance, they invited the children from Dupont Landing to dance and win prizes while their parents attended a fire safety meeting.

“Bikers against Bullies”, a local group, wrapped up the day with a presentation for the children on bullying. Of course no event would be complete without some delicious fall treats – candy apples and cotton candy! The event was a huge success. Boyd Management encourages other managers to organize events with local organizations to make annual safety meetings this much fun!

Upcoming Affordable Communities

Village at Hixon Pond

The Village at Hixon Pond will be a 56-unit multifamily property located in Ft. Payne, Alabama, and owned by the Community Action Partnership of North Alabama, Inc. It is expected to begin construction in the fall of 2017. The Bennett Group serves as development consultant.

Cadence Point

Cadence Point, formerly known as The Boulevard Apartments, will involve the renovation of a 56-unit family property in Enterprise, Alabama, using tax credits. Construction is expected to start in the winter of 2017.

Trinity Lake

Trinity Lake will be a 56-unit family property located in the Phenix City area, using tax credits and HOME funds provided by the AHFA. Construction is expected to begin in early 2018.

Village at Rock Springs

This is a project sponsored by the Community Action Program of North Alabama, Inc. It will be a senior community of duplexes with carports located in Moody, Alabama. The Bennett Group is serving as development consultant. It is expected to begin construction in early 2018.

Projects Under Construction

Mountain View Village

This project has been done in partnership with the Columbiana Housing Authority using the RAD program and tax credits to redevelop an older PHA project in Columbiana, Alabama. It has involved demolishing 47 units, and building back a total of 60 new garden units. Mountain View Village is expected to be complete in July, 2017.

Shiloh

Shiloh is the second phase of a senior living community in Opelika, Alabama, developed by The Bennett Group. Owned by the Alabama Council on Human Relations, Inc., this property is expected to be complete in August, 2017.

Village at Mill Creek

Village at Mill Creek is a project of the Community Action Partnership of North Alabama under construction in Millbrook, Alabama. This is a 56-unit elevator property for seniors. It is expected to be complete in September, 2017. The Bennett Group serves as the development consultant.

Recently Completed Properties

Grace Pointe

The Grand Opening of Grace Pointe was held in November, 2016. This 56-unit single-story property for seniors in Auburn, Alabama, is owned by the Alabama Council on Human Relations, and The Bennett Group assisted as the developer. This second phase is located next to Grace Ridge, a family property developed in 2016.

Springridge

Originally placed in service in 1995, and financed with both the sale of tax credits and a second mortgage from AHFA using HOME funds, this 40-unit property was the first in Alabama to pay down 30% of the HOME loan and then apply for a new round of tax credits. It was successful and the renovations were completed in August, 2015.

Magnolia Gardens

The Bennett Group worked with the Florence Housing Authority to renovate its 214-unit twin towers for seniors using the HUD RAD program and tax credits from the Alabama Housing Finance Authority. This renovation was completed in 2016.

Oakley Cove

This 40-unit property was one of the first HOME projects funded in Alabama, and originally known at “Oakridge.” The Bennett Group and the Alabama Council on Human Relations, Inc., paid off the HOME loan and a new partnership has refinanced and renovated the property using the “Qualified Contract” process. Renovations were completed in May, 2017.

Company Updates

Katherine Ham Joins The Bennett Group

The Bennett Group is welcoming Katherine Ham as our new Office & Assistant Accounting Manager.  Katherine was previously Head of Member Services at the non-profit American Association of Bovine Practitioners.

Stephens Becomes Acccounting & Human Resources Manager

Penny Stephens has been named head of Human Resources and Accounting Manager as of January 1, 2017. In her new capacity, Penny will handle the company’s insurance, 401k and profit sharing, cashflow management and a variety of bookkeeping responsibilities. Prior to her promotion, Penny served three and a half years as our Office Manager and Accounting Assistant.

The Bennett Group Secures Funding for LIHTC Applications in 2014, 2015, 2016

2016

Village at Hixon Pond received $795,575 in LIHTC and $1,218,210 in HOME funds.

2015

Mountain View Village received $829,500 in LIHTC.

Shiloh was awarded $765,692 in LIHTC and $1,217,660 in HOME funds.

Village at Mill Creek was awarded $751,737 in LIHTC and $914,250 in HOME funds.

2014

Grace Pointe was Awarded $6,477,730 in LIHTC and $1,450,030 in HOME Funds. This property was new construction of 56 affordable two-bedroom apartments for adults age 55 and up. It was a second phase of 2012’s Grace Ridge family development in Auburn, Alabama. The Bennett Group served as Development Consultant.

Springridge Apartments in Phenix City, AL received a renovation with an award of $2,207,920 in LIHTC. Springridge was a previous LIHTC development with expiring tax credits. This 40 unit property is home to families in the Phenix City market.

Magnolia Gardens in Florence, Alabama saw renovation of 214 units under the RAD program. The project leveraged $13,000,000 in LIHTC, $5,630,214 of PHA funds, and $3,416,100 of permanent debt. Construction started in January 2015 and was completed in December 2016.

Bennett Group Consulting Is Now Independent

The Bennett Group, parent company of Bennett Group Consulting, is pleased to announce, effective January 1, 2017, Bennett Group Consulting has transitioned into an independent entity owned by Judy Van Dyke and Holly Knight. Both companies have enjoyed this beneficial association and look forward to continued collaboration on existing and future projects.