Affordable Apartment Community for Seniors Opens in Mississippi, Facilitates Aging in Place

Jackson, Mississippi has a new, $28-million affordable apartment community that serves income-restricted seniors, thanks, in part, to an $850,000 Affordable Housing Program grant from the Federal Home Loan Bank of Dallas, awarded through Trustmark National Bank.

The Pearl, jointly developed by Gulf Coast Housing Partnership and Pearl Street Community Development Corp., features 76 one- and two-bedroom apartments reserved for residents 55 or older. The community is designed with elements that facilitate aging in place, including a pool, fitness center, community room and an onsite health center.

AHP funds assist FHLB Dallas members in financing the purchase, construction and rehabilitation of owner-occupied, rental or transitional housing and housing for homeless individuals. The funds must be used to benefit households with incomes at or below 80% of the area median income.