Lincoln Towers offers affordable housing to seniors age 62 and older, as well as a new home to the Wilmington Fire Department’s Station #5. Featuring 80 one-bedroom and eight two-bedroom apartments, all of which will be adaptable for residents with disabilities, the new community offers on-site undergroundparking, laundry facilities on each floor, a fitness center, a computer lab, and expansive community space for supportive and social services. The recipient of stimulus funding in 2009 after the Wilmington Housing Authority and its development partner Michaels Development Company secured a competitive grant from the U.S. Department of Housing and Urban Development, the $30 million Lincoln Towers development is designed with high energy-efficiency systems and materials, making it one of the premier “green” buildings in the City of Wilmington.
Developed by Michaels Development Company in partnership with Abundant Life Fellowship CDC, a faith based nonprofit organization, Living Springs offers affordable housing and supportive services to independent seniors and the frail elderly. Featuring 100 one bedroom apartments with a variety of floor plans for income-eligible seniors (55 and older) in a four-story, elevator serviced building, LIHTC units rents are targeted to individuals with incomes at 30 to 57 percent of AMI. There are also five market-rate units. Twenty units have accessibility features to accommodate seniors with disabilities. Financing included $13.7 million in private equity generated from federal tax credits and $5.6 million in stimulus funding through the American Recovery and Reinvestment Act of 2009.