Loan Amount: $3,210,000
Developer: Chelsea Investment Corporation
The Felician Villa Senior Apartments is a proposed 66-unit multifamily development providing 66 affordable housing units (100% of total) restricted to tenants with household incomes not exceeding 60% of the area median income, featuring a mix of one and two-bedroom units in a garden-style building for seniors 55+. It targets senior households, offering supportive services through partnerships with Catholic Charities Housing to promote stability and self-sufficiency. The property is unique for its veteran preference and integration of special needs units, with 16 units supported by project-based vouchers.