Ribbon Cutting and Grand Opening for The Reserves of Gray Park Neighborhood Development Scheduled for June 15th at 11:00 am in Greenville, MS
Forty-two unit townhouse project is the city’s largest single unit housing development in more than three decades
GREENVILLE, Miss. – June 7, 2018 – The Greater Greenville Housing and Revitalization Association (GGHRA) will hold a ribbon cutting ceremony to commemorate the grand opening of The Reserves of Gray Park neighborhood development on June 15th at 11:00 am. The event will take place at the development’s main courtyard near its entrance at 1500 Ed Gray Drive in Greenville, Miss.
The Reserves of Gray Park is a mixed use, mixed income, ‘in-fill’ housing development built on eight acres of land donated to GGHRA by the city of Greenville in November of 2014. Hailed as the Delta’s first sustainable, healthy community, the development will include forty-two multi-family townhouse style units consisting of one, two and three bedroom structures. The project, Greenville’s largest single unit housing development in more than thirty years, will serve individuals and families at or below 80% AMI, with 62.5% of the units reserved for very-low income residents.
Ed Gray Park will be developed as a sustainable, healthy community in accordance with Traditional Neighborhood Design principals. Components will include a layout that compliments and works with the site. For example, buildings will be positioned and oriented in a manner to capitalize on free, natural recourses including wind, rain and sunlight - ultimately reducing utility costs. Roof overhangs will be extended and pitched in a manner to block sunlight in the hot summer months, while capitalizing on the lower sun angle in the winter to help heat the housing unit during the colder months. Designated areas including natural, recreational and gardening sites will be incorporated and maintained, while the reliance on hard surfaced areas, including concrete and asphalt, will be minimalized.
“The GGHRA believes that building sustainable communities within Greenville is an integral component to fulfilling our mission to develop, provide and promote safe, affordable and decent housing to our residents,” said Daniel Boggs, GGHRA’s Chief Executive Officer. “Per HUD, Greenville maintains one of the highest concentrations of sub-standard housing within the state of Mississippi, which clearly demonstrates the need for new, affordable housing.”
Mr. Boggs said GGHRA’s strategy of incorporating sustainable resources enables the organization to serve as a catalyst in helping create a community that is economically, environmentally, and socially healthy and resilient.
The Reserves of Gray Park development was constructed utilizing a combination of funding sources, including Section 3 funds provided by Rural Local Initiatives Support Corporation (LISC), Home Investment Partnership Program (HOME)-Community Housing Development Corporation (CHDO) funds provided by the Department of Housing and Urban Development (HUD) and the Mississippi Home Corporation (MHC). Additionally, construction and permanent financing was provided by Regions Bank, cash equity was provided by GGHRA, Healthy Housing Initiative Funding was provided by Rural LISC and the Wells Fargo Housing Foundation, Planter Bank and Trust Company (in conjunction with the FHLB’s Community Investment Program), and the Affordable Housing Program (AHP) funds were provided by the FHLB of Dallas.
NOTE: Media are encouraged to attend. Interviews can be arranged either before or after the event. To learn more about how this development makes a difference in Greenville, reporters are encouraged to call Daniel Boggs with GGHRA at 662-378-3121, x303 or visit www.gghra.org.
- Partner Quotes
Rural Local Initiatives Support Corporation (Rural LISC)
Suzanne Anarde, Program Vice President of Rural LISC, said, “Rural LISC was happy to support the efforts of Greater Greenville Housing and Revitalization Association with the predevelopment cost of Ed Gray Park and to further supplement those efforts with a Healthy Housing Grant from Wells Fargo Housing Foundation. We strongly believe this is a new vision in residential development for Greenville, Mississippi and rural America. We are especially proud of how this project incorporates healthy living and sustainability into rural housing and believe this will be a quality place for families to live, work, and play.”
"Regions Bank is proud to partner with the Greater Greenville Housing and Revitalization Association on this monumental project that will make life better for the citizens of Greenville,” said Walt Stephens, Greenville City President. “One of our bank’s guiding principles is to strive to create long-term value for our customers, shareholders and communities. As the Delta's first sustainable, healthy community, The Reserves of Gray Park is precisely the kind of ‘shared value’ project we want to support.”
Federal Home Loan Bank of Dallas
“FHLB Dallas’ Affordable Housing Program opens the door for projects such as Ed Gray Park to come to fruition and we are proud to contribute to the betterment of the Greenville community in partnership with Planters Bank and Trust,” said FHLB Dallas First Vice President and Director of Community Investment Greg Hettrick.
- About Greater Greenville Housing & Revitalization Association, Inc.
GGHRA is an independent 501(c)(3) nonprofit, Community Development Corporation (CDC) /Organization with over twenty-six (26) years of affordable housing development and support experience to the greater Greenville community. The mission of GGHRA is to develop, provide and promote safe, affordable, and decent housing in conjunction with a focus on designing, researching, and/or promoting revitalization activities in the community of Greenville, Mississippi. With an impeccable reputation within the industry, our organization has successfully administered numerous community-based programs, which have assisted thousands of families within the region find and retain adequate housing.
GGHRA has a rich history in developing subsidized multi-family housing, and the organization currently owns and manages one hundred thirty-six (136) affordable housing units through eight (8) separate complexes within the greater Greenville community. The scope of these developments/redevelopments range from the substantial rehabilitation of Greenville’s first multi-family building (originally constructed in 1938) to new construction on vacant land. In addition, our organization has also been successful in implementing and marketing other programs, such as the redevelopment of scattered-site single family units, home-buyers assistance, and homeowner rehabilitation programs.