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.