Project:

Indigo Apartments

Completed:

2017

Project Type:

New Construction

Location: 

Franklin, NC

Indigo Apartments is a recently completed affordable housing development containing 60 apartment units, all of which are set-aside to tenants whose income at or below 60% of Area Median Income.

 

Churchill Financing:

Permanent Loan guaranteed by the USDA 538 loan program – $2,155,000*

 

* Churchill provided a 24-month unfunded forward rate lock commitment for this transaction upon receipt of the USDA-RD 538 Conditional Commitment at construction loan closing.

In addition to the Churchill financing above, the sale of Federal 9% LIHTC and a Workforce Housing Loan were sources of financing.