MOBILE, Ala. (WKRG) — The City of Mobile is bringing 56 new affordable housing units for local seniors in the West Mobile at the intersection of Overlook and Mind Ring Roads, according to a release. The development will be called Live Oak Trace.

The City of Mobile and the Alabama Housing Finance Authority is partnering in the project. Alethia House, a “federally recognized Community Housing Development Organization,” is also contributing to the project. The city is committing $2.7 million from its America Rescue Plan allocations.

The development will cost $18 million and will be financed “through private investors receiving low incoming housing tax credits along with development funding from the AHFA.”

Live Oak Trace will include:

  • a clubhouse
  • scheduled activites
  • computer center
  • fitness room
  • adaptable unites designed for usability and accessibility

“Once constructed, this new development will be located within minutes of shopping, physicians, pharmacies, banks, convenience stores, restaurants, and other commonly used businesses,” reads the release.

According to the release, the development will be required to keep rent affordable for low-to-moderate-income seniors.

“Because of the federal and state tax incentives, annual income for residents will be capped at roughly 60 percent of the area median income, which in Mobile is approximately $31,380 for a family of two,” reads the release. “With funding in place, Aletheia House is projected to break ground on the development sometime in 2023.”

The City of Mobile has made unprecedented investments in affordable housing in recent years, but we know there is still a great need in the community, particularly among seniors living on a fixed income. We are excited to take this first step with Aletheia House and bring 56 new affordable housing units online for senior Mobilians. This is the beginning of a long partnership that will only enhance our efforts to expand affordable housing in the City of Mobile. 

Mobile Mayor Sandy Stimpson

Alethia House is based in Birmingham but will be opening up an office in Mobile in the nonprofit resource center the City of Mobile is opening in 2023.

“We are hopeful this will be the first of many affordable housing projects in the City of Mobile,” Chris Retan, Executive Director of Aletheia House, said.