Golden Key Apartments

Location
Jackson, Mississippi

 

Summary
The Golden Key development was a partnership between the Mississippi Home Corporation and Golden Key Housing Associates to renovate an existing 100-unit apartment of affordable housing development and multipurpose center to include a library. The development will set- aside (20) units designated as HTF units with an additional 10% designated for the special needs population. The development is 100% subsidized with project-based vouchers from the Jackson Housing Authority.

 

Benefits & Innovation
Golden Key Apartments offers rents sized according to tenant income, with no residents paying more than 30% of their income on rent. This provides stability for families who can be safely housed while also being able to afford the essentials of such as childcare, food, and healthcare. The unique community offers beautiful living space, frost-free refrigerators, ceiling fans, spacious floorplans, generous closets, tiled floors in Kitchen, Entry and Bath. Community Distinctions include these lifestyle enhancing items such as On-Site Laundry Facilities, Community Room, Friendly atmosphere, located close to shopping, entertainment, and schools with superior resident service.

Although primarily a housing project, Golden Key was also able to renovate an existing public library. The Fannie Lou Hamer Library/Golden Key Center was designated a Mississippi Landmark on April 29, 2016. Some of the features include a Seating Area for 40, Traditional books & resources (children & adult), (8) Public Service Computers, Free High-Speed Internet (In the library & outside the building), Public printing, copying, scanning, and faxing.

 

Partners

  • Mississippi Home Corporation
  • Golden Key Housing Associates

 

Funding

  • HTF: $1,200,000
  • Tax-exempt bond proceeds: $11,000,000
  • Low Income Housing Tax Credit Equity: $6,595,001
  • AHP: $500,000
  • First Mortgage: $5,064,600
  • Deferred Developer Fee: $19,165
  • Local/state funds: $6,660,000
  • Total: $31,038,766

 

Contact
Alison Cox: (601) 366-0885 ext. 116
[email protected]

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