Loan Amount: $3,984,290
Developer: First Step House
5th East Apartments is a 75-unit multifamily affordable housing development, with all units restricted to households earning 25% of the area median income (AMI), targeting homeless individuals with severe mental illness in need of supportive living environments. The project stands out for its provision of permanent supportive housing through on-site services focused on addiction recovery, homelessness, and behavioral health, adjacent to an existing transitional housing facility operated by the developer. Amenities include all one-bedroom units supported by 75 project-based vouchers from local housing authorities and behavioral health services, fostering long-term stability and self-sufficiency for residents.