Loan Amount: $2,125,000
Developer: Adams Construction & Management Company
Stone Ridge Townhomes is a 108-unit affordable housing community with all units restricted under the Section 42 LIHTC program, catering to low-income families in a suburban neighborhood setting. Unique amenities feature one-story duplexes with two-car garages, private backyards, and shared access to a clubhouse and swimming pool, providing a home-like experience superior to typical rentals. Located in Hurricane, it benefits from proximity to community services, schools, and retail, addressing housing needs in a growing rural area of southern Utah. Phase I Loan Amount: $775,000; Phase II Loan Amount: $1,450,000