Loan Amount: $1,450,000
Developer: Northwest Real Estate Capital Corp.
The Mill Creek Apartments is a 41-unit affordable housing project for seniors, with 40 units fully subsidized through HUD Section 8 and targeted for additional LIHTC restrictions, providing one-bedroom units in a single building restricted to low-income seniors earning up to 50% of AMI with an average rent targeting 46.50% AMI. The property focuses on stable, subsidized housing for elderly residents to promote long-term affordability and community development. Amenities include a laundry room, common patio deck area, and a common area recreation room.
Units: 41