Valor Grove in Tuscaloosa is the first of a VA initiative to end veterans' homelessness. 

 

On the day before Veteran's Day, the development--an $11 million, 50-unit apartment complex for homeless veterans--held its grand opening.

 

Financed in part by $537,303 in AHFA-administered Housing Credits, Valor Grove is the first of a VA initiative to identify and revitalize unused VA land and buildings in support of the VA's goal to end veteran homelessness. Approximately 25 VA campuses across the nation will eventually have apartment complexes like Valor Grove.

Tuscaloosa VA Public Affairs Officer Damon Stevenson said Valor Grove is meant to house veterans while they transition into civilian life after the military. "They come here to transition, to get health care they need at the medical center, get back on their feet and whatever they need," said Stevenson. "We help them with clothing, get them ready for job interviews, help them with resumes, we work with them to get VA benefits and more."

 

In November, Tuxedo Park, a 42-unit apartment complex for seniors in Birmingham's Ensley neighborhood, officially began construction. 

 

"Tuxedo Park will provide high quality, affordable housing for seniors, including those who can no longer afford to maintain their own homes," said Chis Retan, executive director of Aletheia House. "We are so grateful that Mayor (William) Bell, the Birmingham City Council and our other partners share our vision for what this project can do help seniors and create an asset in the Ensley community."

 

The development was funded in part by $226,410 in HOME funds and $670,863 in Housing Credits administered by AHFA.
 

Rents will start from $395 for a one-bedroom apartment and go to $495 for a two-bedroom unit.
 

According to the newly-released 2013 American Community Survey (ACS) from the Harvard Joint Center for Housing Studies, housing cost burdens declined for the third straight year in 2013.  

 

Last year, 39.6 million households spent more than 30 percent of their income on housing, down from 40.9 million in 2012 and a peak of 42.7 million in 2010.  

 

Still, just over a third of U.S. households (34 percent) were cost burdened in 2013, including about a quarter of all homeowners (26 percent) and half of all renters (49 percent). 

 

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Alabama residential sales during the third quarter while sluggish continued to gradually improve, up 3.3 percent compared to the same period a year earlier. 

This is an improvement over the 2.3 percent growth experienced in the second quarter of the year. Total sales of 12,469 units represent the best third quarter since 2007 (15,051 units). 

With that said, third quarter sales are still 25.2 percent (was 25.0 percent last quarter) below the quarterly peak established in 2005 when 16,674 units were sold.

The AHFA offices will be closed on Wednesday, December 24 and Thursday, December 25 in observance of the Christmas holiday and Thursday, January 1 in observance of the New Year holiday. Please make a note of these dates.