Loan Amount: $800,000
Developer: c/o Alliance Property Group, Inc
The Owens Seniors is an existing 72-unit multifamily development providing 71 affordable housing units (98.6% of total) restricted to tenants with household incomes not exceeding 40% of the area median income, featuring units in five two-story buildings for seniors 55+. It targets senior households, offering affordability through acquisition and rolling rehabilitation to extend the property\'s life. The property is unique for its low-income focus in a suburban neighborhood 90% built out, with one manager unit.