Michaels Development chosen to revitalize Tulane Court
MONTGOMERY, AL - The Montgomery Housing Authority (MHA) has selected The Michaels Development Company, Marlton, NJ, to serve as its partner for a master-planned, mixed-use, mixed-income community on the site of the former Tulane Court public housing complex.
“The MHA is excited about this new community project and the master plan that will transform one of our city’s most dynamic communities. We believe, too, that this new trend in public housing will enhance the quality of life for our residents,” said Evette Hester, Montgomery Housing Authority Executive Director. “We are confident that Michaels’ significant experience, financial strength, and expertise in developing mixed-finance residential communities make them the right partner to fast track our vision into reality,” said Ms. Hester.
Ms. Hester described the new Tulane Court project as a vibrant, trend-setting community where people of all income levels can live, work, and play and raise their families in proximity to their jobs, schools, churches, shopping, and cultural amenities. The site, near downtown Montgomery, has strong community support for its redevelopment.
The new mixed-income community that replaces Tulane Court will be developed in several phases and will include a range of affordable and market rental units as well as homeownership opportunities and neighborhood retail.
“We are honored to be selected for this exciting new community in the heart of the Capitol City,” says Milton Pratt, Senior Vice President for The Michaels Development Company. “We are looking forward to working closely with the MHA, the residents, and the entire Montgomery community. This new partnership will mean working with area businesses, creating new jobs and offering economic opportunities for local residents,” said Pratt.
Pratt says the Michael team has already hit the ground running meeting with local residents and community leaders. In addition, he says the team has submitted a tax credit financing application to the Alabama Housing Finance Authority.
About Michaels Development Company
Michaels Development Company, part of The Michaels Organization family of companies, has four decades of experience in housing development, including the reconstruction, ownership and operation of over 45,000 units of mixed-income and affordable housing in 27 states. It has a proven track record of turning distressed public housing properties into thriving communities. Its sister company, Interstate Realty Management Company, is a leading property and asset management company known for its innovative social services programs, including adult job training and youth empowerment programs.
About MHA
The mission of the Montgomery Housing Authority is to provide quality, innovative housing for diverse families in need, promote opportunities for self-sufficiency, economic independence and homeownership; and to build thriving communities in the city of Montgomery, Alabama.
For more information about the Montgomery Housing Authority go to www.mhatoday.org or call 334.206.7200. For information regarding this press release contact Kim Davis, MHA Spokesperson, at 334.538.3427.