Properties

Cedarwood Village

Pickens, MS

Property Type:
Single Family
Total Development Cost:
$5,231,492.00
Financing Structure:
Rural Development, Conventional
LIHTC Units:
32
AMI:
40/60 & 20/50
Market Rate Units:
NA
Completion Date:
2008
Energy Star Partner

Cedarwood Village Subdivision is a 32-unit property located near Old Highway 51, in Pickens, Mississippi. The subdivision consists of 32 three-bedroom single-family houses on individual lots. Each three-bedroom house is approximately 1,180 square feet plus a garage, front porch and back patio.
Each house is equipped with a stove, vent hood, refrigerator, dishwasher, disposal, microwave oven, central heat and air conditioning, washer and dryer hook-ups and ceiling fans. All of the appliances are ENERGY STAR rated. The exterior is constructed of brick and/or vinyl siding.
The property includes a playground area and a community facility for the exclusive use of the residents.
The Cedarwood Village Subdivision was built to cater exclusively to large families. The rent structure of the property is governed by the IRS Section 42 rules and is restricted to residents earning at or below 60% of the area median income. An additional twenty percent of the property is further restricted to residents earning at or below 50% of the area median income for deeper targeting.
Preference is shown to qualified residents that are on the Public Housing Authority’s waiting list. It is anticipated that at the end of the compliance period the houses will be offered for homeownership.