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NEW YORK, May 19, 2021 /PRNewswire/
Red Stone Equity Partners LLC ( Red Stone Equity or the Company ), a privately-owned real estate finance and investment company specializing in affordable multifamily residential funds and financings, announced the closing of
Red Stone Equity – Fund 84 Limited Partnership ( Fund 84 ), a $207-million multi-investor Low Income Housing Tax Credit ( LIHTC ) investment fund. Fund 84 is the 18
th and largest Red Stone Equity multi-investor fund offering to close since the Company s inception and includes investments from 12 different institutional investors, 11 of which are repeat Red Stone Equity investors and one of which is a first-time Red Stone Equity investor. Fund 84 s proceeds will be used, along with other project-level financing sources, to finance the construction and/or rehabilitation more than 1,600 units of affordable rental housing contained within 23 properties located in 11 different states. With th
Catholic Charities Cathedral Village Apartments will provide onsite social services to curtail poverty and homelessness An architectâs rendering shows the Cathedral Park Apartments, set for completion in 2022. âOne thing rings true during these uncertain times, and that is the deep need to invest in inclusive and supportive housing communities,â said Travis Phillips, director of community development and housing for Catholic Charities of Oregon. (Courtesy Catholic Charities of Oregon) 3/13/2021 5:02 PM
select A tree crew grinds limbs Feb. 9 in preparation for construction of Cathedral Park Apartments in North Portland. The new low-income housing is in a former industrial site near the Willamette River and the St. Johns Bridge. (Ed Langlois/Catholic Sentinel)
Work underway on 110 affordable apartments in North Portland February 11 2021
The Cathedral Village Apartments project is being developed by Catholic Charities of Oregon and Related Northwest.
Shovels thrust into wintry soil was the first step for a budding new affordable housing community in North Portland.
When completed in July 2022, Cathedral Village Apartments will offer overhead views of the soaring St. Johns Bridge, the rumble and hum of freight trains round back, and 110 units for Portlanders to call home.
Development partners Catholic Charities of Oregon and Related Northwest officially broke ground on the $37.7 million project at 6520 N. Salem Ave. on Tuesday, Feb. 9.