HRS Awarded $899 K National Housing Grant For Hickory Valley

Highlands Residential Services has been awarded a $899,000 grant to assist in the construction of Cookeville’s Hickory Valley.

Director of Operations Chris Cassetty said the funding saves local money and helps the housing authority prepare financially for future developments.

“Our grant actually scored 65,” Cassetty said. “65 was the lowest score that got funded, so we were right on the cutting line. But, on the standpoint of funding, we would have got funded the same if we scored 93. So, we were very fortunate. It is a very competitive grant.”

Cassetty said the grant requires the site to be housed by a percentage of low income residents. Cassetty said the funding comes from the National Housing Trust Fund.

“It’s $900,000 more dollars that we can spend on the next project and the next development,” Cassetty said. “We have some very aggressive, very long-term development plans, so it is a huge assistance to us.”

The housing authority anticipates a late 2022 completion date of Hickory Valley. The Buffalo Valley Road housing is meant for low-income elders with 48 units.