LIHC Investment Group and Rockport Mortgage Announce $140M in Financing for West New York, NJ Affordable Housing; Extending Affordability through 2059
The FHA Section 223(f) refinancing loan will maintain the affordability of 688 homes at Parkview Towers
LIHC Investment Group and Rockport Mortgage Corporation announced the closing of a $140 million FHA Section 223(f) refinancing loan for Parkview Towers, a 688-unit property located West New York, New Jersey. The development consists of two 24-story buildings and is owned by LIHC, a leading real estate investment group committed to the preservation of affordable housing.
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Multi-year effort ends with tenants, advocates, and owners celebrating new protections for existing and future residents at Mercantile Wharf.
Building on his commitment to creating and maintaining affordable housing in the City of Boston, Mayor Martin J. Walsh together with LIHC Investment Group, Belveron Partners, and the Boston Housing Authority, today announced the preservation of 60 affordable rental homes at Mercantile Wharf in the North End, with the support of the building’s tenants.
Rockport Provides $74M FHA Financing on NoLita Rental Building
Rockport Mortgage Corporation has originated a $74 million loan to LIHC Investment Group to refinance Little Italy Restoration Apartments (LIRA) at 21 Spring Street in the NoLita neighborhood of Manhattan.
The Federal Housing Administration Section 223(f) refinance extended the asset’s Section 8 housing status through 2043 and will help fund a suite of renovations planned for the property.
LIHC Investment Secures Refi for 2 Affordable New Jersey Communities
LIHC Investment Group has obtained two loans for the refinancing of Verona Senior Citizens Apartments in Verona, N.J., and Mansion Apartments in Pine Hill, N.J.
Rockport Mortgage Corp. closed the $51 million deals, which consist of U.S. Department of Housing and Urban Development Section 223(f) loans.
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