Merchants Capital Provides $15 Million in Financing for 206-Unit Lakeshore Manor Affordable Senior Community in East Chicago

EAST CHICAGO, IN - Leading multifamily financing provider Merchants Capital today announced it has secured a $15.5 million U.S. Department of Housing and Urban Development (HUD) loan for Lakeshore Manor in East Chicago, Indiana. Located on the corner of 136th and Main Street on the northwest side of the city, the new development will bring 206 units of income- and age-restricted housing to the area.
Originally designed to replace the now-closed John B. Nicosia senior building, Lakeshore Manor...

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