New affordable apartments for seniors

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NeighborWorks Capital recently closed a $350,000 predevelopment loan to Connecticut Housing Partners for the development of Monroe Senior Housing, a 49-unit affordable senior building to be built in Monroe, Connecticut. CTHP will use 9% LIHTC equity, DOH soft financing, and a HUD 202 loan for the development. CTHP has renewed its development activities with new team members, and restores a 15-year relationship they’ve had with NC.

To learn more about predevelopment loans, please contact Mike Haas, Senior Loan Officer, at mhaas@neighborworkscapital.org.

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