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Raymond James Invests in HOPE VI Project

By Donna Kimura

Raymond James Tax Credit Funds announced that it is providing nearly $12 million in low-income housing tax credit equity for the construction of McKenzie Court Phase II in Tuscaloosa, Ala.

The second phase of a HOPE VI development, the project will have 144 one-, two-, three-, and four-bedroom units in 27 buildings. Of that total, 133 will be public housing units with rental assistance, and 11 will be designated for households earning no more than 60 percent of the area median income. The development will feature a community center, a computer lab, a fitness center, and a shuffleboard area. The Tuscaloosa Housing Authority will provide social services to the residents.

McKenzie Court Phase II, which is under construction and expected to be completed in December, is being developed in partnership with Hollyhand McKenzie Developer, LLC.