Affordable Housing in Mississippi
With rental rates on the rise across the nation, more low-income individuals and families in Mississippi are struggling to find safe, comfortable housing they can afford. The already strained Section 8 programs usually have long waitlists, and many households who don’t qualify for those programs still need affordable housing options. The good news is that federal tax incentives like the LIHTC and are making it possible for developers and property owners — like Olympia Management, Inc. — to create more affordable housing for those in Mississippi who need it most.
Living in Mississippi
The birthplace of root beer, Elvis Presley, and the blues, Mississippi is coveted for its mild climate, sandy Gulf beaches, Southern hospitality, and rich soil. Indeed, the state’s economy has been rooted in agriculture since it was first settled, thanks in part to its deep, fertile soil and extended growing season. Cotton and soybeans are among the predominant crops raised here, but Mississippi is also home to more tree farms than any other state in the U.S., and more than 60 percent of all farm-raised catfish are produced in Mississippi. Jackson is both the state capital and largest city in Mississippi, with a metro population of over a half-million. The other major population center of Mississippi is along the Gulf Coast, with the Gulfport-Biloxi area serving as home to nearly 400,000 people.
Olympia Property Management is proud to provide affordable senior housing at Calhoun Manor in Calhoun City, a quiet community of 1800 people in the heart of north Mississippi about two hours from Jackson. Calhoun City is a quiet rural community surrounded by lakes and woodlands, offering a lovely small-town feel with numerous community events year-round.
About the LIHTC
The Low Income Housing Tax Credit (LIHTC) was established by the 1986 Tax Reform Act. Also known as Section 42, it’s a special tax credit given as an incentive for residential developers and property owners to designate some or all of their housing units as affordable housing.
Developers and owners seeking to qualify for the LIHTC do not do so directly through the federal government, but rather through the housing authority responsible for allocating the LIHTC credits in their state. In Mississippi, that office is the Mississippi Home Corporation.
About Olympia Management, Inc.
Olympia Management, Inc. was established in 2014 as the management company for Olympia Construction, Inc. (OCI), an owner/developer of multi-family and elderly affordable housing complexes. While currently headquartered in Albertville, Alabama, Olympia Management currently manages hundreds of affordable housing properties across the southeastern United States.
See below to learn more about our affordable housing options in Mississippi. To learn more about Olympia Management or to inquire about availability in your area, contact us today.