HDi restarts development of Pecan Grove Homes, Phase I

Pecan Grove Homes consists of 40 single family homes for rent in Waynesboro, Georgia. The project was originally awarded housing credits in 2002, but with permission the credits were swapped in 2005. The project stalled in January 2006 when funding ran out. Working with the Georgia DCA, National Equity Fund, Regions Bank, and Community Development Trust, HDi orchestrated a replacement of the General Partner and became the developer of record. Construction and lease-up are expected to be achieved in June 2006.