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Completed in 2013, Shepherd’s Cove is a “rebirth” of “Edgewood Terrace,” one of the first projects in Alabama financed primarily with tax credit equity. After 15 years, Edgewood was in need of major renovation and re-positioning. The investor exited the limited partnership, and the general partner brought in Deo Volente (“God’s Will” in Italian), a mission-based non-profit as the new limited partner. Together, we applied for a new round of tax credits and were able to completely renovate this property.
We replaced the exterior vinyl siding with a colorful combination of stone, brick and “Hardi Board.” The exterior steel pan stairways were replaced with new stairways recessed under new gable porticos. Each apartment was renovated with all new Energy Star appliances, windows and doors. All new cabinetry, plumbing and HVAC equipment was included, as well as new hard tile flooring and new carpet. The old clubhouse was taken down and an entirely new facility provided, which includes a large gathering/meeting area, a full kitchen, a TV alcove, a computer center, a kid’s fitness/play room and a laundry.
The residents of Shepherd’s Cove are enjoying a variety of opportunities and services that have resulted from the partnership with Deo Volente, Cornerstone Methodist Church, Higher Education Assistance Partnership (“HEAP”), and others, which include: weekly Bible study; weekly evening homework assistance for all children; assistance with preparation for college ACT tests; scholarships to 4-H camp, and a variety of summer activities for the children. There’s a special spirit alive at Shepherd’s Cove.
In addition to The Bennett Group, the design and development team included: Joel Peek, AIA, architect; and Jacquelyn Dixon, Real Life Builders, colors and finishes. The Construction and permanent lender was Troy Bank & Trust. The contractor was Doug Hollyhand Realty. The investor is Enterprise Community Investments.