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Montgomery starts Phase 3 of Columbus Square with 60 affordable units after AHFA tax-credit award
Summary
City and Montgomery Housing Authority are beginning Phase 3 of Columbus Square, a $20.6 million downtown mixed-use project that will add 60 affordable and market-rate units; completion is set for early 2026 and the project secured a 9% tax credit from the Alabama Housing Finance Authority.
City officials and the Montgomery Housing Authority have begun Phase 3 of Columbus Square, a downtown mixed-use redevelopment of a former public-housing site that the mayor said will add 60 affordable housing units.
The mayor said the project is a $20,600,000 development at 500 North Bainbridge Street and described it as "phase 3" of Columbus Square. He said the Montgomery Housing Authority studied for and obtained a 9% tax credit from the Alabama Housing Finance Authority to support the project and that it was the only Montgomery project among 16 statewide to receive that funding. Completion is set for early 2026 in the mayor's remarks.
Why it matters: the mayor presented the project as part of a broader push for affordable and workforce housing, and said the city's housing division will work with the housing authority and developers to produce a mix of affordable and market-rate housing across the city.
Details and context: the mayor said previous phases added 96 units. He described the Housing Authority—s origins (formed in 1939 under the New Deal) while emphasizing the project—s expected contributions to downtown vitality and the city—s tax base. No detailed financing breakdown beyond the AHFA 9% tax credit was provided in the remarks.
Ending: the mayor framed the project as the start of broader housing efforts and reiterated the city—s commitment to bringing market-rate and workforce housing to multiple neighborhoods.
