NeighborWorks Capital closed a $500,000 predevelopment loan with Mutual Housing Association of Greater Hartford, Inc. (MHA-GH) in August 2019. Our loan refinances a previous NeighborWorks Capital loan as well as cover the new costs to get to the construction closing for two new buildings (316 on the Park and Park Terrace II) financed in one transaction in August 2020 in Connecticut. 316 Park Terrace is a thirty-apartment historic brick building built in 1924 in need of moderate rehab and reconfiguration of the apartments, to be reduced to 21 apartments. Park Terrace II needs limited rehab as the site was developed in 2003. Work will include adding high efficiency boilers, granite countertops, hardwood floors, LED lighting, and improved ventilation.
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.