Loan Amount: $2,440,000
Developer: Wasatch Affordable Ventures, LLC
The Retreat at the Homestead Apartments is a proposed 55-unit multifamily development providing 55 affordable housing units (100% of total) restricted to tenants with household incomes not exceeding 50% of the area median income, featuring a mix of studio, one, and two-bedroom units in a three-story building for seniors 62+. It targets senior households, with five units set aside for homeless seniors earning 25% of the area median income, offering affordable rentals with reduced maintenance needs. The property is unique as part of the larger Logan Homestead master development plan, which includes market rate and additional LIHTC multifamily developments and commercial space.