THDA Recovery Act Funds Helped Finance $12.2 Million Lyons Ridge Senior Apartments

Memphis Housing Authority Development Built using NAHB's "Green" Standards

On Wednesday, July 13, 2011, the Memphis Housing Authority announced that the new Lyons Ridge Senior Apartments elderly complex was opened. These units were successfully planned and financed with $12.2 million in public funds - $7.9 million in stimulus funding through the Tennessee Housing Development Agency and another $4.2 million in HUD funding through the Memphis Housing Authority.

Lyons Ridge Senior Apartments, Memphis, TN

The South Memphis development is a 102-unit, three-story building that was built to National Association of Home Builders National Green Building Standards. Using these standards promotes energy and water efficiency, and tenants must take an education class on maintenance issues.

Renters will enjoy a walking track and the security of a gate. Those renting the units must be 62 or older and meet income requirements tied to the area's median income. To find out more about Recovery Act funding in Tennessee, go to http://www.tnrecovery.gov.

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