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UB Community Development Announces $4.25 Million Facility Loan for the Renovation of Sun Pointe Apartments

Atmore, AL – UB Community Development, LLC (UBCD), a community development partner of United Bank, announced today United Bank has provided a $4.25 million renovation loan for Sun Pointe Apartments, a 56-unit, affordable family housing project in Andalusia, Alabama. Hall Housing Investments is the developer leading the renovation. Originally built in 2003, Sun Pointe will be undergoing a total renovation and upgrade, preserving the existing affordable housing facility.

“As rental housing costs continue to increase, it is vital that existing affordable housing is preserved and updated,” said Joe Raines, Senior Vice President of United Bank. “United Bank is excited to be part of this effort to make sure that hard-working families in Andalusia have safe and affordable housing in which to live.”

For more information about UB Community Development, or for help planning your next funding project, contact Alex Jones, President, UB Community Development at (251) 446-6017 or email alex.jones@unitedbank.com; or Joe Raines, SVP, United Bank and UB Community Development at
(205) 314-5790 or email Joe.Raines@unitedbank.com.

About United Bank
United Bank is an $890,000,000 financial institution that has enjoyed 116 years of continuous service to Atmore, Alabama and surrounding communities. United Bank has offices in Atmore, Brewton, East Brewton, Flomaton, Monroeville, Frisco City, Bay Minette, Foley, Lillian, Loxley, Magnolia Springs, Silverhill, Spanish Fort, Daphne, Summerdale and Semmes in Alabama. United Bank serves Santa Rosa County, Florida in Jay, Milton, and Pace. For more information about United Bank, please visit our website at www.UnitedBank.com.
Member FDIC.

About UB Community Development
UB Community Development’s strong history and experience in New Markets Tax Credit transactions, coupled with our passion for improving communities, make UBCD Alabama’s premier financial partner for economic and community development. Through our NMTC projects, Community Facilities Lending Program and Community Housing Capital Fund, UBCD is working with community development partners in the fields of healthcare, education, manufacturing, public works, affordable housing and more. For more information about UB Community Development, visit our website at www.UBCommunityDevelopment.com.

WHO WE ARE

UB Community Development is dedicated to meeting the needs of communities. UB Community Development LLC (UBCD), a community development partner of United Bank, serves communities throughout the Southeast and beyond by providing funding solutions designed to increase economic development, affordable housing, create jobs and promote better access to goods and services. Our New Markets Tax Credit, Community Housing Capital, and Community Facilities Lending Programs are being used to help finance projects related to education, affordable housing, healthcare, manufacturing, public works and more.

CONTACT US

UB COMMUNITY DEVELOPMENT
  • 109 W. Nashville AveAtmore, AL 36502
  • (251) 446-6017
  • 3109 Blue Lake Drive Ste. 115Birmingham, AL 35243
  • (205) 637-2921

WHAT WE DO

UB Community Development LLC (UBCD), a community development partner of United Bank, is dedicated to continuing United Bank’s strong history of serving communities across the Southeast for nearly twelve decades. Whether your goals include funding a community development project, affordable housing, improving essential community facilities, expanding your business or accessing increased capital, UBCD offers a variety of solutions to help you meet your goals.
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