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Affordable Senior Community Opens Near Washington, DC

Affordable Senior Community Opens Near Washington, DC UrbanMatters Development and Atlantic|Pacific Communities broke ground on the project in 2019. May102021 Photo Credit: Carlton Stuart, Reid Temple AME Church Woodlands at Reid Temple, a 252-unit affordable senior housing community, has opened its doors to residents in Glenn Dale, Md. The development is the result of a public-private partnership between The Reid Temple AME Church, Reid Community Development Corp., UrbanMatters Development Partners LLC and Atlantic|Pacific Communities. The developers broke ground on the community in 2019, soon after starting construction on two other affordable housing projects in the metro. Woodlands at Reid Temple was considered, at the time, one of the largest new construction projects financed by the Maryland Community Development Administration through their Risk Share loan program. According to Yardi Matrix information, financing included two construction loans totaling $

Merchants Capital closes on first risk share loan

Share The New York office of mortgage banking company Merchants Capital has closed on a a $18.2 million Housing Development Corporation (HDC) Fannie Mae Risk Share loan for Mannie Wilson Towers, a historic affordable housing development located in the Harlem neighborhood of Manhattan.  The securement of this funding represents the first HDC Fannie Risk Share loan closed with Merchants Capital, a loan product uniquely created by the company. The loan has a 30-year term and a 40-year amortization.  Located in the former Sydenham Hospital, Mannie Wilson Towers provides 102 one- and two-bedroom units of restricted-income housing for seniors in the Harlem neighborhood. As part of the U.S. Department of Housing and Urban Development (HUD) Section 202 program, units are restricted to residents 62 years of age and older who usually earn 50 percent of the area median income (AMI) or less. The Section 202 program also provides support activities for residents such as cleaning, coo

Selbsteinschätzung: Welcher Investor-Typ bin ich? ()

Selbsteinschätzung: Welcher Investor-Typ bin ich? ()
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