Selma Waterfront Phase I
About the project
InVictus Development, LLC (IVD) was founded by Paula Rhodes and Rick Cavalieri in 2015. IVD's mission is to rebuild communities and create affordable housing.
IVD is headquartered in Tampa, FL and works in Florida and Alabama.
LISC provided $675,000 in financing to finance predevelopment costs for two commercial historical dilapidated properties in the Water Avenue Historic District of downtown Selma, Alabama. The Harmony Club building will provide 13,300 square feet of space for up to three tenants, including a restaurant and event spaces. The Mural Arts building will include three retail units on the first floor and nine residential units, two of which will be affordable at 80% AMI.
Partner:
InVictus Development, LLC
Location:
Selma, AL
Total Investment:
$675,000
Results:
9 units
22,135 sq. ft.
Project Category:
Affordable Housing
Employment Generation
Product:
Predevelopment loan
Website
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