DreamKey Partners closed on a $2,750,000 bridge loan for Johnston Oehler Seniors, an affordable senior housing community to be built in Charlotte, NC. The loan from NeighborWorks Capital will bridge grant funding from Mecklenburg County during the construction period. Johnston Oehler Seniors will provide 140 affordable rental units for seniors in Charlotte, NC between 30-80% AMI. NeighborWorks Capital also provided $500,000 of predevelopment financing to support early-stage costs of the project.
Our team had the opportunity to spend time with five members of NeighborWorks America serving communities in Boston and Providence. On this trip, we visited Codman Square Neighborhood Development Corporation, Nuestra Comunidad Development Corporation, Madison Park Development Corporation, ONE Neighborhood Builders, and Cambridge Neighborhood Apartment Housing Services. Each of these organizations is doing transformational work to create opportunities for people to live in affordable homes, improve their lives, and strengthen their communities.