Before and after: Apartments receive $8M in renovations

Memphis-based ALCO Management Inc. recently invested $8 million in two of its local affordable apartment complexes.

Eastern Heights and Creekwood Apartments — which hold a combined 226 units — were overhauled, which meant new roofs, kitchens, bathrooms, HVAC systems, floors and more for residents.

The renovation came about because ALCO was applying for fresh Tennessee Housing Development Agency tax credits for the complexes. However, project manager Sarah Jemison said the company went above and beyond THDA's requirements.

"There's a difference between what the community actually needs and what the state requires," Jemison said.

First Tennessee Housing Corp. was the primary equity partner on the project, Jemison said. GSB Contractors Inc. was the general contractor.