Loan Amount: $1,045,000
Developer: Commonwealth Management Corporation
Station Square Apartments is a 31-unit affordable housing development designed specifically for seniors aged 62 and older, featuring one- and two-bedroom units in a four-level elevator-served building with underground parking. Key amenities that enhance its appeal include a community room, fitness center, wellness room, computer room, bicycle racks, high-speed internet wiring, abundant parking, and seven ADA-compliant units for accessibility. The project serves the elderly population with 25 restricted units under the LIHTC program, requiring 40% of units to be set aside at 60% of Area Median Income (AMI), and it marks the first LIHTC development in Roy, welcomed by the city for its senior-focused tenancy and exceptionally large two-bedroom units.