$10 Million Renovation Will Upgrade Senior Housing in Mobile, Alabama

On July 26, 2022, ALCO secured the funds to start a $10 million renovation of Cathedral Place Apartments, a 47-year-old affordable housing community in Mobile, Alabama, for low-income elderly residents. Construction will begin in August and will last about a year.

Memphis-based ALCO acquired Cathedral Place in 2019 with a long-term vision for preserving its quality and accessibility. This renovation guarantees the apartments will stay affordable for low-income elderly residents for the next 30 years.

ALCO’s enhancements include new kitchens, bathrooms, lighting, and flooring in the building’s 190 apartments. The project will also modernize the building with upgrades to the windows, HVAC system, water heating system, and the fire sprinkler system. A new community room and library on the 13^th floor will allow residents to socialize and look out on downtown Mobile without ever leaving the building.

The preservation plan comes as the National Low Income Housing Coalition reports that Alabama lacks 76,023 affordable rental homes for extremely low-income households. An estimated 21% of the region’s extremely low-income renter households are seniors.

“Nobody can do these projects alone,” said ALCO Acquisitions & Development Analyst Thomas Robinson. “It takes a whole team, and this team is committed to providing quality affordable housing for the elderly residents of Mobile.”

Many thanks to the Acquisitions & Development Team for getting us to this point and for Mona Ammons, Community Manager at Cathedral Place. and her whole team, who have been working for months to prepare the residents and the building for all of the messy improvements to come!