Loan Amount: $1,534,000
Developer: Community Development Corporation of Utah
Parker & Willey Apartments is a 23-unit multifamily project preserving existing low-income housing, with 100% of units income restricted to households below 60% of AMI and a weighted average AMI of 48.7%. The development serves low-income residents in low and moderate-income census tracts, focusing on maintaining affordability during its extended use period through January 2037. As a nonprofit acquisition, it highlights efforts to revitalize distressed neighborhoods without specified unique amenities in the documentation.