United Bank provides funding for the construction of Trinity Ridge Apartments in Phenix City, Alabama

October 20, 2023

ATMORE, Ala., Oct. 20, 2023 /PRNewswire/ — United Bank (OTCQX:UBAB) has provided $12.8 million in construction financing along with $660,000 in soft financing to The Bennett Group for the new construction of Trinity Ridge Apartments, a 56-unit multi-family affordable housing complex in Phenix City, Alabama. Funding for this loan was made possible, in part, due to the bank’s $8 million 2020 Capital Magnet Fund award. Once completed, the complex will offer two-bedroom units within two residential buildings.

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