Lincoln, Alabama, has a lot to offer its residents. Home to the world-famous Talladega Superspeedway, the Honda Manufacturing of Alabama plant, and Logan Martin Lake with 30 miles of recreational shoreline, Lincoln is a dynamic, thriving city. Unfortunately, this hasn’t always been the case. The area was hit hard during the national recession with unemployment rates reaching 14.58%, a higher percentage than the nation. In recent years, population has increased, the economy has stabilized, and unemployment has decreased substantially making it the perfect place for the construction of Red Oak Ridge Apartments. Red Oak Ridge is a new construction 42-unit development for low-income families comprised of seven two-story residential townhomes and one multi-family residential building. The community is home to households earning 50 to 60 percent of the area median income. Red Oak Ridge features a community building, picnic area, computer room, and an exercise room.
New Construction: 42 Units
Private Equity Investment: $6,464,725
Local Jobs Supported: 51
Local Government Revenue: $347,256
Projected Ongoing Annual Effect:
Local Jobs Supported: 13
Local Government Revenue: $185,220
Additionally, they received a $15,000 Active Lifestyle Grant through the CAHEC Foundation, a nonprofit affiliate of CAHEC, to help install a youth playground. Red Oak Ridge was developed by DSI Real Estate Partners and Aletheia House, Inc. DSI is a leader in the development of affordable housing within the state of Alabama and the southeastern region with over 1,400 multi-family units produced during its 10-year history. Aletheia House is a non-profit community- based organization dedicated to the health and well-being of individuals and communities by providing high quality, low-cost services. Affordable housing is one of seven service areas they specialize in. CAHEC is proud to have partnered with both of these organizations on such an important project.
Lincoln is a city rich in history and pride. Residents welcome visitors from all over the country that come to Lincoln to enjoy recreational activities, sporting events, and community gatherings. Because of these factors, population continues to increase, but individuals seeking affordable housing were met with few choices. The construction of Red Oak Ridge provides the community with a beautiful and safe affordable housing option for current and future citizens.