Highlands Residential Magnolia Ridge Awaits Tax Decision
Highlands Residential Services is awaiting a decision on a tax credit application submitted for the Magnolia Ridge housing development. Executive Director Chris Cassetty said the application was submitted to the Tennessee Housing Development Agency at the beginning of April. “We had an update on Magnolia Ridge, but it’s basically just that the tax credit application […]
HRS Closing Funding Gap On RedBud Village Project
Highlands Residential Services Board of Directors learned that the funding gap on the RedBud Village Development will now be covered by a grant. Highlands Residential Services was left with an estimated $750,000 – $1 million gap after bids for the project came in higher than expected. Highlands Residential Services Executive Director Chris Cassetty said he […]
HRS Consultant: Magnolia Ridge Application Appears Strong
Highlands Residential Services faces competition from eight other housing authorities for tax credits on the Magnolia Ridge project. Consultant Alvin Nance told the Highlands Board of Directors Thursday a total of 49 applications submitted. Nance said he believes the board’s application is strong. “So the category that we are in is a RAD (Rental Assistance […]
Highlands Reapplying For Magnolia Ridge Tax Credit
Highlands Residential Services re-applying for a tax credit that would provide funding for the Magnolia Ridge development.
8 Hickory Valley Apartments Having HVAC Issues
Eight units at Highlands Residential’s Hickory Valley Apartments are having issues getting air conditioning to the second floor. Developer Alvin Nance said they are looking into whether the HVAC units are faulty or if the units they chose are poorly suited for those apartments. Nance said Highlands Residential Director of Operations Kelly Stewart purchased window […]
Funding Looks Good For Magnolia Ridge
Highlands Residential Services expects word by late August on an application to receive tax credits for its Magnolia Ridge project off Buffalo Valley Road. Developer Alvin Nance told the Highlands Board Thursday the final application has been submitted to the Tennessee Housing Development Agency. Nance said they reviewed a list of all the applicants for […]
HRS Could Receive Disaster Relief Housing Credits
The Highlands Residential Services could be eligible for disaster relief funding for its Magnolia Ridge development. The Tennessee Housing Development Agency has housing credits available for a special round of funding. Developer Alvin Nance said Putnam County is one of five counties that could be eligible based on 2020 storm damage. “THDA is asking for […]
