ATMORE, Ala., Jan. 4, 2024 /PRNewswire/ -- (OTCQX:UBAB) – United Bank has provided $4.6 million in construction financing to Hall Housing for the renovation of River Pointe Apartments, a 37-unit affordable housing facility for families in Childersburg, Alabama. The complex offers one- and two-bedroom apartment homes and will be extensively renovated including updated kitchens and baths, lighting, ceiling fans, and HVAC systems.
On-site amenities will include an upgraded clubhouse featuring a new computer center and community laundry, a new covered picnic pavilion with grills, an upgraded playground, and new outdoor fitness equipment available for residents' use.
About United Bank
United Bank is a $1.3 billion financial holding company that serves Southwest Alabama and Northwest Florida. United is a Community Development Financial Institution (CDFI), which recognizes its commitment to stimulating economic development in underserved communities. UB Community Development (UBCD) focuses on economic and community development through its New Markets Tax Credits, affordable housing, and community facilities programs. Member FDIC.
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SOURCE United Bank
FAQ
What is the name of the company mentioned in the press release about construction financing for River Pointe Apartments?
The company mentioned in the press release is United Bank, with the ticker symbol UBAB.
How much construction financing did United Bank provide for the renovation of River Pointe Apartments?
United Bank provided $4.6 million in construction financing for the renovation of River Pointe Apartments.
What are some of the renovations planned for River Pointe Apartments?
The renovations for River Pointe Apartments include updated kitchens and baths, lighting, ceiling fans, HVAC systems, an upgraded clubhouse with a new computer center and community laundry, a covered picnic pavilion with grills, an upgraded playground, and new outdoor fitness equipment.
Where is River Pointe Apartments located?
River Pointe Apartments is located in Childersburg, Alabama.
What types of apartment homes are available at River Pointe Apartments?
River Pointe Apartments offers one- and two-bedroom apartment homes.
