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).
Many areas are experiencing housing shortages right now, but few are as challenged