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180 Pre-Approved to Lease at New River's Edge Development

Interest in the new River's Edge at Eastside Pointe housing development in Covington's Eastside neighborhood is building, according to the Housing Authority of Covington (HAC).

180 potential residents have been pre-approved for the application wait list, meaning they have passed initial credit and criminal background checks, HAC said in its most recent newsletter.

The development of River's Edge is moving along at the former site of the Jacob Price housing project. The $45 million federal HOPE VI project is being developed by Atlanta-based IBG/Integral in partnership with HAC.

26% of the pre-approved applicants are former residents of Jacob Price.

When completed, River's Edge will be of a mixed income population. 

35% of the tenants will be HAC-assisted, 25% will low-income tax credit tenants, and the rest will be market-rate.

HAC received a $17 million HOPE VI Grant, to be leveraged with $23.6 million of public and private investment for residential development and $5 million in community and supportive services investment to replace the former 163-unit Jacob Price Homes.

Three direct mail campaigns and three corresponding information sessions have been conducted since September 2012, targeting both former Jacob Price residents and other Covington public housing residents.   

All direct mail campaigns invited residents to apply to the new community, HAC's newsletter said. The most recent campaign in October 2013 also included apartment information, floor plans, site amenities, and the wait list preference guidelines.  Preference points are granted to applicants based on age, disability status, and whether they're working, going to school, and/or actively working toward agreed upon goals in their Individual Development Plans (IDP).       

Photo: River's Edge at Eastside Point/RCN file