The Novogradac Journal of Tax Credits, a nationally-respected publication aimed at the affordable housing, new markets, renewable energy and historic rehabilitation tax credit industries, has selected the Murphy Lane community as a winner of its 2014 Development of Distinction Award. FOURMIDABLE in Bingham Farms, MI manages the
community for developer Rosedale Corporation. The award recognizes efforts to overcome obstacles in real estate developments.
“We appreciate working with the team of Stewart Rutledge, Britton Jones along with the Hedges organization at Rosedale to successfully manage this project. We couldn't be more thrilled about them receiving this award!” exclaimed Scott Allen, president of FOURMIDABLE. “The Journal award recognizes only the best use of the all-important tax credits that are vital to the availability of quality, affordable housing for our communities.”
Murphy Lane in Holly Springs, MS opened in November 2013 and is designed for seniors 62 and up. The community features single story two bedroom townhouses that include fully-equipped kitchens with granite countertops, complete laundry facilities and energy-saving tankless water heaters. The development includes a community room for social activities and a business center. Rents range from $455 to $573 per month.
FOURMIDABLE is also working on a similar development adjacent to Murphy Lane in Holly Springs for Rosedale Corporation, called Church Court East and Church Court West which is scheduled to open in December, 2014.
FOURMIDABLE is a national real estate management company that specializes in managing, marketing and leasing market rate, tax credit, senior and family government assisted and public housing apartment communities. Founded in 1975, FOURMIDABLE manages 71 communities in nine states, with more than 7,100 units under management including luxury rentals, condominiums, affordable housing, senior assisted living, public housing, retail and office developments. FOURMIDABLE is a member of the elite AMO® (Accredited Management Organization) and is an approved management firm for HUD, USDA Rural Development, Mississippi Home Corp and other State Agencies. As an agile business organization, FOURMIDABLE constantly monitors and leverages advancements in technology and best business practices to benefit its customers – including back office accounting, human resources, information technology and compliance support, as well as revenue-enhancing opportunities. Most recently, FOURMIDABLE announced the formation of a Commercial and Residential Real Estate Brokerage division, which provides a new level of service to property owners. In addition to property management services, it can now serve as the intermediary between buyers and sellers of real estate. The new division has already closed sales of
significant size for apartment communities and office developments. www.FOURMIDABLE.com
