AHEPA Senior Living has completed the $10 million revitalization of three HUD-assisted senior housing communities in Mobile, AL. The project represented the organization’s first revitalization project through the Department of Housing and Urban Development’s RAD for PRAC, or Rental Assistance Demonstration for Section 202 Project Rental Assistance Contracts, process.

AHEPA renovated 175 units in communities across the city. The AHEPA 310 Phases V, VI and VII Apartments originally were funded by the PRAC administered by HUD’s Section 202 Supportive Housing for the Elderly Program.

“Our residents are seniors living on limited incomes — many below 50% of the area median income,” AHEPA Chairman of the Board Ike Gulas said in a press release.

AHEPA President and CEO Steve Beck called the revitalization a “milestone” for affordable senior housing in Mobile.

“Thanks to the support of our financing and HUD partners, we’ve enhanced the quality of life for residents at these three communities for the long term, delivering on our daily commitment to safe, dignified affordable housing and quality aging services for seniors,” he said.

The total cost of the project was $25 million. The amount above $10 million included a combination of construction and land costs, a developer fee, financing and soft costs, AHEPA told the McKnight’s Business Daily. The project’s financing is comprised of a $11.8 million in tax-exempt bonds from the Alabama Housing Finance Authority, $7.39 million in low-income housing tax credit equity and a $6 million HUD 221 (D)(4) mortgage loan.

AHEPA Senior Living manages 13 HUD Section 202 communities throughout the greater Mobile, AL, area, including Fairhope, Daphne, Citronelle, Theodore, Semmes, Bayou La Batre and Saraland.

“Mobile has been part of our mission for decades — since 1985. We’re committed to helping seniors thrive right here. We consider ourselves a true partner of the community. This revitalization reaffirms that long-term commitment,” AHEPA 310 Board President Christ Coumanis said.

Founded in 1980, AHEPA Senior Living has developed and managed more than 90 HUD Section 202 communities in 21 states and serves more than 5,000 older adults across the country.