The Anniston Star

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February 1, 2015

Anniston Apartment complex becoming federal affordable housing

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Posted: Friday, June 13, 2014 6:14 pm | Updated: 3:33 pm, Tue Jun 24, 2014.

A Birmingham-based developer plans to renovate an aging Anniston apartment complex and turn it into affordable housing with help from the federal government, but not for everyone who now lives there.

According to Calhoun County Revenue Department records, Cahaba Valley Development, a Birmingham-based company that specializes in creating affordable housing through federal tax credits, recently bought Cane Creek Apartments at McClellan. City officials and the property's manager say federal tax credits will be used to change the apartments into affordable housing for residents with moderate incomes. Some tenants are excited about the promise of significant upgrades to the deteriorating, more than 50-year-old apartments. However, others will never see the improvements, saying they're being forced to move because they make too much money to qualify for the new affordable housing rates.

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