CHAPEL RIDGE OF JACKSON

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CHAPEL RIDGE OF JACKSON
  • Buyer may Obtain New Favorable Agency Financing
  • Conveniently located only 5 miles from downtown Jackson and less than 225 miles away from Memphis, TN, New Orleans, LA and Mobile, AL
  • Easy Access to major roadways including Interstate 20 and Interstate 220
  • Qualified Contract Eligible starting in 2020 with ability to be a market rate property in 2021
  • Jackson, the Capital of and Largest City in Mississippi, has a Stable Economy with Low Unemployment
  • 2016 Occupancy Rate was Over 97%

1636 Raymond Road
Jackson, MS 39204

  • Status: Escrow
  • Price: UNPRICED
  • # of Units: 144
  • Rentable SF: 139,176
  • Year Built: 2004 & 2005
  • # of Buildings: 16
  • Lot Size: 9.20 Acres
  • Density: 15.65 Units/Acre
  • # of Stories: 2
  • Download Marketing Package:
  • Description:

    • Chapel Ridge of Jackson Apartments is a 144-unit affordable housing community located in Jackson, MS. It is conveniently located close area amenities, including shopping, restaurants, and entertainment.

      Chapel Ridge of Jackson was built and placed in service in 2004 & 2005 under the Section 42 Low-Income Housing Tax Credit (LIHTC) program. There is an existing regulatory agreement in place which requires all units to be rented to income qualifying residents earning no more than 60% of Area Median Income (AMI) limits, which are provided by Mississippi Regional Housing Authority. The property is still within its initial tax credit compliance period. A qualified purchaser can be a non-profit or for-profit entity that agrees to maintain the affordability restrictions.

      Chapel Ridge of Jackson offers one, two, three, and four bedroom apartment homes featuring washer/dryer connections and a full appliance package. Community amenities include on-site maintenance, on-site leasing office, on-site laundry facilities, community pool, fitness center, clubhouse, playground, and  picnic areas.

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