The Shoals to open in September

Published 4:07 pm Tuesday, July 19, 2011

The Shoals, located on Alabama 25, is set to open in September. (Reporter photo/Brad Gaskins)

By BRAD GASKINS / Staff Writer

COLUMBIANA – Columbiana seniors will soon have another option of where to call home.

The Shoals apartment complex is scheduled to open in September, according to Randy Fleece, president of Gateway Management, which owns the property.

The Shoals is located on Alabama 25 and has 46 units, including one-bedroom and two-bedroom units.

To live there, seniors must be at least 55 years of age and meet income limits, which are $25,920 for one person, and $29,640 for two people.

The Shoals is a $6.7 million investment, Fleece said, including a $644,830 tax credit for 2010, as well as HOME funds of $1.6 million.

The units will be rented for $375 to $400. Construction started in late 2010.

Fleece said 10 to 15 units have already been preleased. Applications are being accepted.