Loan Amount: $1,310,987
Developer: Vecino Bond Group
The Asteri Cedar City Apartments is a 45-unit multifamily development providing 40 affordable housing units (88.9% of total) restricted to tenants with household incomes not exceeding 50% of the area median income, featuring a mix of one and two-bedroom units in a three-story building for seniors 55+. It targets senior households, with five units set aside for homeless seniors earning 25% of the area median income, offering affordable rentals in a community setting. The property is unique as part of a larger master development plan, emphasizing senior-specific needs with reduced maintenance requirements.