Vacant office building transformed into transitional housing

Share This Post

NeighborWorks Capital purchased a $360,000 participation in a permanent loan with National Council on Agricultural Life and Labor Research Fund, Inc (NCALL) for Gaudenzia Foundation in May 2020. The first position lender, Citizens Bank, requested that NCALL purchase their loan. Gaudenzia provides housing and services to individuals seeking mental health and drug and alcohol treatment. This loan is part of $5 million in financing for the acquisition and renovation of a vacant office building into a 26-unit transitional housing and addiction rehab center for single men (16 units) and single women with children (10 units).  

Subscribe To Our Newsletter

Stay up to date with NeighborWorks Capital

More To Explore

NeighborWorks Capital Partners with Climate United to Build National CDFI Channel for Greenhouse Gas Reduction Fund Multifamily Lending

We are thrilled that Climate United has been selected to receive nearly $7 billion of funding from the EPA’s Greenhouse Gas Reduction Fund (GGRF). NeighborWorks Capital is proud to partner with Climate United to build a national CDFI channel for GGRF multifamily lending and to engage in market building to ensure funds reach underserved communities.

Read More »