NeighborWorks Capital closed a $1,700,000 acquisition loan with Community Housing Partners Corporation (CHP) in December 2019. This loan will assist CHP with assuming loans from Virginia Housing Development Authority. Ridge Apartments are a 100-apartment project located in Woodstock, Virginia that were developed in three phases (38 apartments in 2003, 38 apartments in 2004, and 24 apartments in 2005) using 9% LIHTC financing. All apartments are currently lease at 50% AMI, with up to 60% AMI eligibility. CHP plans to refinance the acquisition and existing debt in a new 4% LITHC/tax exempt bond transaction to combine several properties.
Chief of Consulting
The Chief of Consulting (CC) is a member of the senior management team and has overall responsibility for the startup and buildout of a consulting business focused on the affordable housing and community development industry. The CC will need to be an entrepreneur at heart but also be able to work as part of a team. The CC is a critical strategic partner for the Chief Executive Officer (CEO) and will report directly to the CEO.
