The Arkansas Development Finance Authority (ADFA) has announced a significant boost for affordable housing in the state, with $13.3 million awarded from the 9% Low Income Housing Tax Credits (LIHTC) program. This funding will facilitate the creation of 698 affordable housing units across various counties in Arkansas, addressing the pressing need for quality housing options for families and individuals.

Investments in Local Communities

Ro Arrington, President of the ADFA, emphasized the importance of these investments, stating that they directly benefit the communities most in need. The LIHTC program is recognized as a highly effective tool for developing affordable housing, and this year’s projects reflect the high demand and the quality of developers in Arkansas.

The developments selected for funding in 2026 include:

• Avalon at Mabelvale in Pulaski County with 60 units, developed by Domera Development, LLC.
• Avalon Villas at Mabelvale in Pulaski County with 62 units for the elderly, also by Domera Development, LLC.
• Briley Manor in Pulaski County with 71 units for the elderly, developed by Phillips Development Corp.
• Enclave Estates at Magnolia in Columbia County with 60 units, by Cubit Development Group, LLC.
• Enclave Estates at Trumann in Poinsett County with 60 units, also by Cubit Development Group, LLC.
• Iron Wheel Mountain Home in Baxter County with 60 units, by W-HOMES LLC.
• Mountain Home Senior Estates in Baxter County with 64 units, by Upward Housing Group I LLC.
• Newport Apartments in Jackson County with 42 units, developed by Trinity Development, LLC.
• Orchards at Little Rock in Pulaski County with 63 units for the elderly, by Garth Development.
• Spring Creek Flats in Washington County with 24 units, by Community Development NWA.
• Sullivan of Fayetteville in Washington County with 60 units, by VH Development, LLC.
• Vineyards at Little Rock in Pulaski County with 65 units, also by Garth Development.

Long-Term Impact

The tax credits, claimed annually over a decade, represent a total investment of $133 million. This substantial financial commitment underscores the state’s dedication to enhancing living conditions for its residents, particularly those in underserved areas. The developments will offer a mix of new constructions and rehabilitations, ensuring a range of options for potential residents.

By prioritizing affordable housing, Arkansas is taking a significant step towards strengthening its communities, supporting families, and fostering a more inclusive environment for all its citizens.

Original reporting: 5NEWS / KFSM (Fort Smith) — read the source article.