Local Housing Authority Seeks Bonds To Renovate Affordable Housing Complex
Leon County is trying to shore up some of its affordable housing units.
The Housing Finance Authority (HFA) of Leon County is trying to secure $13 million to renovate the Magnolia Terrace Apartments. The complex is located near the Capital City Country Club on Magnolia Drive.
The Authority’s Financial Advisor Mark Hendrickson says the project comes almost 50 years after the development’s original construction.
“Any area that’s that old starts having some issues where it needs rehabilitation," Hendrickson said. "There’s a lot of things that over a period of time need to be replaced and there’s not ever been a substantial rehabilitation of Magnolia Terrace.”
A new owner proposed the rehab project and applied for funding through the Housing Finance Authority.
The HFA will hold a public hearing next Monday to discuss the project.