United Bank provides funding for the construction of The Vinings at Newport In Kingsland, Georgia
ATMORE, Ala., Dec. 21, 2023 /PRNewswire/ -- (OTCQX: UBAB) – United Bank has provided $600,000 in soft financing to Vantage Development for the construction of The Vinings at Newport, a 96-unit affordable housing property for families in Kingsland, Georgia. United Bank is also providing $5 million in construction financing to the project through its participation in US Bank's $20 million construction facility. Once completed, the complex will offer one-, two-, and three-bedroom units.
On-site amenities include a clubhouse featuring a community laundry facility and indoor fitness center. An outdoor barbeque area and playground will also be available for residents' use. The new complex will be convenient to shopping, schools and other amenities.
About United Bank
United Bank is a $1.3 billion financial holding company that serves Southwest Alabama and Northwest Florida. United is a Community Development Financial Institution (CDFI), which recognizes its commitment to stimulating economic development in underserved communities. UB Community Development (UBCD) focuses on economic and community development through its New Markets Tax Credits, affordable housing, and community facilities programs. Member FDIC.
SOURCE United Bank
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