Loan Amount: $1,070,000
Developer: Phoenix Holding Group, LLC
The Blue Ridge Apartments is an existing 40-unit multifamily development providing 39 affordable housing units (97.5% of total) restricted to tenants with household incomes not exceeding 45.25% of the area median income, featuring a mix of one, two, and three-bedroom units in two buildings. It targets low-income families, offering affordable rentals in a rural neighborhood that is 50% built out.
Units: 40