NAHT and BRIDGE Housing Close Financing for Ivy II at College Park
Columbus, OH. Wednesday, April 20, 2016. - NAHT, in partnership with BRIDGE Housing is pleased to announce the closing of $17.7 million dollars in Low-Income Housing Tax Credit (LIHTC) equity financing for development of the Ivy II at College Park. The Ivy II at College Park is an affordable multifamily housing community and offers 198 rental apartments in 12 residential buildings. It is located in Chino, California within the College Park master plan area, adjacent to the Chaffey College Chino Campus and will consist of one, two and three bedroom apartments.
NAHT secured the LIHTC investment under the NHT 32 Tax Credit Fund, L.P. As the LIHTC syndicator, NAHT will work with BRIDGE and the LIHTC investor to ensure the project meets development requirements and is completed on time. The deal was closed on Friday January 29, 2016.
“NAHT is proud to partner with BRIDGE Housing on the development of Ivy II at College Park,” stated Paul M. Cummings, a Senior Acquisitions Officer at NAHT. “Supporting BRIDGE’s mission to spearhead new solutions to the worsening shortage of affordable housing is a privilege and part of NAHT’s core principles.”
About BRIDGE Housing
BRIDGE Housing is a leading nonprofit developer, owner and manager of affordable homes, with deep experience in an array of revitalization, transit-oriented, urban-infill and mixed-use/mixed-income communities. Since its inception in 1983, BRIDGE has participated in the development of more than 16,000 homes serving 40,000+ people. For more information, visit www.bridgehousing.com.
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