A new housing development is on its way to Hope, Arkansas. “Avalon at Hope,” a 60-unit townhome community, will soon rise off the 900 block of West Avenue E, bringing much needed housing options to the area.
Prairieland Community Development, a nonprofit based in Illinois, recently received gap funding to move the project forward. The development will be financed in part by a $1.5 million Affordable Housing Program (AHP) grant from the Federal Home Loan Bank of Dallas and an annual allocation of $1.22 million in Low-Income Housing Tax Credits (LIHTC) from the Arkansas Development Finance Authority (ADFA). Construction is expected to begin in early spring 2026.
These federal programs help create housing that’s affordable for low- and very-low-income households, especially in rural areas like Hope, where housing options can be limited.
“Rural areas are oftentimes the places most in need of new housing, especially high-quality housing that is attainable for everyone,” said Traci Williams of Rockwell Housing Solutions, LLC, the project’s consultant. “I’m grateful to ADFA and FHLB for recognizing this need and providing the opportunity to serve the low-income citizens of our state.”
Avalon at Hope is a joint effort between Domera Development, LLC and Prairieland Community Development. Domera, a private developer that boasts eight successful affordable housing projects in its first four years, brings deep experience in strategically financing these types of projects. Prairieland, a 501(c)(3) nonprofit, focuses on the connection between housing and health and currently owns and operates ten developments across the region.
Together, the development team is committed to delivering housing that strengthens neighborhoods, supports working families, and helps Hope grow.
Prairieland Community Development is a Rural LISC partner, and we concentrate our activities in five key areas for building sustainable communities to include:
1. Expanding Investment in Affordable Housing, Housing and other Real Estate
2. Increasing Family Income and Wealth
3. Stimulating Economic Development
4. Improving Access to Quality Education
5. Supporting Healthy Environments and Lifestyles