Daily Jigsaw: Clean start
ALCO Management Inc. threw a party after its $30 million renovation of Greenbriar Apartments in Frayser, but getting there wasn’t easy.
The ribbon-cutting showcased affordable housing for more than 200 families, complete with balloons, raffles, dignitaries, box lunches and a large white tent with folding chairs.
But there was a lot of work behind the scenes to get there.
Since 1974, ALCO has acquired, developed and managed thousands of apartments across the Southeast. It operates 15 properties in Memphis and 55 across the Southeast.
The company used to build market-rate housing but has focused on affordable properties in recent years. To do so, it leverages government funding, low-income housing tax credits and equity investors to renovate and maintain properties.
Read more about the Greenbriar Apartments here.
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