Building amenities will include on-site management as well as a community room, game room, and library for the enjoyment of all tenants. This project has both state and local support through financing sources and will provide ongoing supportive services to the residents.
Huntington Community Impact Capital (CIC) is proud to provide $7.12 million in support, comprised of $5.9 million in federal Low-Income Housing Tax Credit (LIHTC) equity and $1.18 million in federal historic tax credit (HTC) equity, as well as a $4.99 million construction loan.
The project sponsor is Hope Network, whose mission includes providing quality living options that focus on the safety and security of their residents. Cove Development will co-develop the property, bringing more than 30 years of real estate experience to the team.
Together, we are creating affordable housing to help strengthen the communities we serve by providing residents with stability and a safe place they can call home.