BUILDING COMMUNITY WITH OUR PARTNERS

ALCO has a long-standing relationship with Wesley Living, a Memphis-based non-profit owner and manager of affordable apartment communities for seniors. While many of you are likely familiar with Wesley and attend SAHMA with members of their team, you may not be familiar with the extent of our partnership.

In Wesley, we have a partner that shares our mission of building community by providing quality affordable homes for residents. By working together, we leverage each organization’s strengths for the betterment of all our residents.

RESIDENT SERVICES

Wesley serves over 2,200 residents and manages 28 senior apartment communities in Tennessee, Arkansas, and Kentucky. With their focus on senior living, they have expertise in providing resident services that enhance the quality of living for seniors.

ALCO has partnered with Wesley to provide resident services at our senior communities – Cathedral Place, Magnolia Terrace, Parsons Cove, Riverwood Tower, and Birmingham Tower. Their expertise and community connections has allowed us to expand the services we provide residents, including fitness classes, spiritual support, isolation prevention, social events and more.

DEVELOPMENT

ALCO has preserved 45 affordable apartment communities during the last 23 years. We have developed a strong team, and we’re able to execute complex projects that will improve resident’s homes and allow them to stay affordable for a long time.

Wesley has partnered with our development team to preserve two new projects this spring – Wesley Pine Ridge in Paris, TN and St. Mary Manor in Jackson, TN. We submitted our first tax credit application for Pine Ridge in May of 2019, so this has been on the drawing board for quite some time!

When we finish the construction projects at these two properties, we will have helped Wesley Living preserve and improve 1,001 homes for seniors in Tennessee.

A TEAM EFFORT

Getting a project to the start of construction is a large effort. Sarah Jemison led the charge for the last three years to get these two projects financed. Shaun Walker jumped in to work with Sarah to get them closed. Bruce Hagan developed the renovation plans with the project architect, Mitch Hall and the two contractors, CMCC and BluSky.

Paul Norman has worked closely with the contractors and will oversee the construction projects for the next year. Robert Hyde led the team through the development process. He also started and nurtured the relationship with Wesley that has led to six redevelopment projects since 2014 and our acquisition of Brookfield Apartments in 2013. Thanks to everyone that has made this partnership stronger. We all look forward to our continued benefits from working together.