Cottondale Village Redevelopment Ribbon Cutting Ceremony

A ribbon cutting ceremony will take place in Marianna, FL on Thursday December 8^th to mark the completion of the redevelopment at Cottondale Village Apartments, owned, developed, constructed, and managed by Royal American — and a new beginning for 82 families calling the apartment community home.

In 2010, Cottondale Village began undergoing an extensive rehab in an effort to provide a better standard of living for their residents. Financed in part by a USDA Rural Development 515 Rural Rental Housing Direct Loan, Phase I of Cottondale Village was constructed in 1978 and included 50 units for families with very low, low and moderate incomes. In 1982, through the same funding, Phase II was built adding 32 units. Recently, with funding assistance from Florida Housing Finance Corporation, Royal American Development invested approximately $5 million to completely renovate and improve the property, which was recognized as Florida’s USDA Multi Family Housing Community of the Year in 2011. The multifamily development was chosen for its significant energy improvements and renovations to the property.