Patterson Place

About Patterson Place

The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive offering of Patterson Place, a 52-unit affordable housing community located in Huntsville, Alabama. Built in 1999, the property is 100% occupied and benefits from a highly stable tenant base. Patterson Place operates under a LIHTC Land Use Restriction Agreement (LURA) through 2039 and is leased to seniors by choice. Importantly, separate HOME rent restrictions expired in mid-2025, allowing rents to be set up to 60% of Area Median Income (AMI), unlocking immediate and ongoing NOI growth within a predictable framework. Conveniently located just off US-231 (±30,000 VPD) and approximately 10 minutes north of Downtown Huntsville, the property is well positioned within one of the Southeast’s fastest-growing employment markets, anchored by technology, defense, and aerospace employers. Investors are offered a durable, stabilized income stream today with near-term mark-to-market upside, including rent growth and utility reimbursements.