|(6/29/12) CANTERBURY APARTMENTS RENOVATED WITH FEDERAL AND STATE FUNDING|
|Bridgeville, Jun 29, 2012
@@Contact: Kathy Beisner (302) 857-3582
Canterbury Apartments Renovated with Federal and State Funding
BRIDGEVILLE, Del., June 29, 2012 – After 30 years, Canterbury Apartments was beginning to show it’s age. With the support of federal and state funding a complete renovation of the property was finished in April. The renovation changed the layout of the apartments, installation of energy-efficient appliances and the addition of a multi-purpose community room.
Built on 6.5 acres, Canterbury Apartments consist of 4 buildings, including a community center. The $3.6 million renovation project is funded in part by the U.S. Department of Agriculture Rural Development’s Multi-Family Housing Program, the Delaware State Housing Authority, and Low-Income Housing Tax Credit Proceeds.
USDA Rural Development State Director Jack Tarburton said, “It is our privilege to support Canterbury Apartments for their contribution to safe, attractive, affordable housing in Bridgeville. As a result of their initiative and investment, Canterbury Estates Limited Partnership and Severn Management Company, has enabled numerous individuals and families access to a place to call home.”
In 1982 the community of Bridgeville recognized the need for additional affordable housing for lower income families in the area. USDA Rural Development provided $815,580 for construction of the 24-unit facility and most recently provided a loan in the amount of $262,274 toward rehabilitation of the property. In addition, Tarburton said, “USDA has set aside almost $142,000 to keep 21 of the Canterbury Apartments rents below market levels. That money ensures that tenants won’t have to pay more than 30 percent of their income for rent to live here.”
USDA Rural Development’s mission is to increase economic opportunity and improve the quality of life for rural residents. In 2011, the agency provided $132 million to rural Delaware. The funding supports a wide variety of loan, guaranteed loan, and grant programs to rural residents in the areas of housing, community facilities, business development, infrastructure, and other essential needs. Additional information on rural programs is available by calling their office in Dover at (302) 857-3580 or by visiting www.rurdev.usda.gov/de.