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Redevelopment in the Rock Celebrates Completion of Phase One Construction Public-Private Partnership Marks $60 Million Investment

 

LITTLE ROCK, AR (Dec. 19, 2019) – Today, the Metropolitan Housing Alliance (MHA) celebrated the completion of their public-private construction partnership with Gorman & Company. The investment of more than $60 million was used in the renovation project, Redevelopment in the Rock, which included significant updates to Fred Parris, Cumberland and Jesse Powell Towers. This is one of the largest investments in public housing in state history.  

“The completed towers make up roughly 600 units of quality, affordable housing offered by the Metropolitan Housing Alliance and Gorman & Company,” said Anthony Snell, MHA executive director. “While this is the end of the first phase of our redevelopment, it is just the beginning. In the coming years we will invest $40 million worth of renovations at public housing communities across the city.”

Redevelopment in the Rock is the result of MHA’s participation in HUD’s Rental Assistance Demonstration Program, which allows public housing authorities to leverage public and private debt and equity to reinvest in public housing in order to make needed capital improvements to aging public housing stock. 

“The public-private partnership we entered with Gorman & Company has been exceptional,” said Kenyon Lowe, chairperson of the MHA Board of Commissioners. “The towers that have been renovated represent the bulk of public housing in the city. Together we’re improving the quality of life for our residents and the community at large. We look forward to making this dream a reality at our properties across Little Rock.”

“Gorman is proud to close out this phase of our partnership,” said Gorman & Company’s Gerald Turner.  “Little Rock is a wonderful city, and we’re thrilled to be a part of this community. The investments we’ve made with MHA will have a positive impact on the residents and staff of these towers, as well as the surrounding areas.  We look forward to a long and successful partnership with MHA.”

Construction on the 40-plus-year-old towers began in the fall of 2018 and was completed months ahead of the early 2020 expected completion. Renovations consisted of cosmetic and structural improvements as well as updates to make the units safer and more environmentally friendly. Improvements include but are not limited to:

  • ADA compliant switches and HVAC controls
  • New water-saving sink and shower faucets
  • New energy-efficient windows and exterior doors
  • New energy-saving appliances 
  • Generators for each of the towers

About Metropolitan Housing Alliance

Metropolitan Housing Alliance develops, owns and operates quality affordable and accessible housing that provides assistance to citizens of Little Rock, Arkansas utilizing various federal, state and local programs.  Currently, MHA owns 248 public housing units, 200 affordable housing units, 158 market-rate units, administers 2262 Housing Choice Vouchers, 651 Project-Based Vouchers and operates 52 SRO Vouchers, 120 Mainstream Vouchers and one FSS/Homeownership program.

About Gorman & Company

Gorman & Company specializes in revitalizing communities through innovative housing partnerships. As a trusted partner and respected industry leader since 1984, Gorman creates meaningful workforce housing projects that match community needs.  Gorman also offers expertise in downtown revitalization, the preservation of affordable housing, and the adaptive reuse of significant historic buildings. Gorman is consistently ranked as one of the top affordable housing developers in the county by peer organizations. Gorman & Company has offices in Denver, CO; Milwaukee, WI; Chicago, IL; Phoenix, AZ; and Miami, FL. Learn more at www.GormanUSA.com.    

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