The Stoneridge Villas development will include 145 units of high-quality, affordable apartments for seniors. Located at 1700 Balch Road, Huntsville, AL, the completed Stoneridge Villas Master Plan will be a 21.7 acre site, of which Phase I occupies 10.9 acres. It is designed to support seniors 55 or older in the City of Huntsville with a mix of one and two-bedroom units, in fifteen one-story cottage apartment buildings.
The project is located in a suburban area with incomes above the area median income. It is near all major amenities including grocery and retail shopping and recreation. Leasing efforts have shown that the project is meeting a high demand for this housing in the area. Phase I is affordable to households at 60% Area Median Income.
The units have modern appliances and washer/dryers, are energy efficient, and built with brick and cementitious siding. The community offers a wide variety of amenities, including a clubhouse with computer center and exercise room, covered picnic area, unit security package, and walking trail.
This project is bringing quality housing to an area of the City that has not had such an investment in decades. The project is designed to be a sustainable development to provide quality affordable housing to the community and City for years to come. All units were developed with a mix of financing including LIHTC equity, a loan from the Huntsville Housing Authority, and Conventional loans.