NeighborWorks Capital recently closed a $831,000 permanent loan to Neighborhood Development Services (NDS) for Ashtabula Homes II, a 40-home scattered site rental development in Ashtabula, OH. Developed in 2005, the forty homes were intended to be sold to the tenants after 15 years, but most LIHTC-financed single-family developments remain long-term rentals. NDS needed to refinancing the original perm lenders from the LIHTC financing, and NC provided a 15-year, fully-amortizing loan.
Lakes Region Community Developers | Bay Street Apartments
NeighborWorks Capital is pleased to extend a $673,000 construction-to-permanent loan to Lakes Region Community Developers for Bay Street Apartments.
