HRS Awarded $2.5 Million For New “Redbud Village” Development

Highlands Residential Services has received $2.5 million in state housing funds for a future master plan development.

Redbud Village would bring 20 units to the housing authorities inventory. Executive Director Dow Harris said the grant means half of the Cookeville project is now funded.

“That starts to get us close to making this development actually a reality,” Harris said. “There are some things that we’ve got to work through like the management, but I think this could be a very strong development.”

Harris said the development would be located near Buffalo Valley Road on the same property as Oak Tree Towers. Harris said the housing authority was the second ranked application out of eight only behind Franklin.

Harris said the board is now pursuing a $800,000 federal loan to help fund the remainder of the project.