Gulf Coast Housing Partnership (GCHP) closed on a $842,000 permanent loan for Country Club Estates, a 62-unit affordable housing development for seniors in Montgomery, AL. NeighborWorks Capital provided a forward commitment for GCHP in late 2018, but the project faced significant construction delays. This new permanent loan extended the loan commitment and increased the loan amount to cover additional project costs.
NeighborWorks Capital Deploys $500 Million to Catalyze Affordable Housing Development
NeighborWorks Capital has achieved a milestone of $500 million in loan capital deployed to support the affordable housing development, economic development, neighborhood revitalization, and resident and community services work of NeighborWorks network organizations across the United States.