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.
