Loan Amount: $5,559,948
Developer: Wasatch Manor, Inc.
Wasatch Manor is an 11-story HUD-assisted senior housing facility offering 184 units for low-income elderly residents, with effective rents averaging 19% to 35% AMI through subsidies to prevent homelessness among this vulnerable population. Unique amenities span multiple levels, including a penthouse community room, library, exercise room, and laundry, as well as basement facilities like a hair salon, movie room, community kitchen, computer room, and sitting area. Its downtown location provides exceptional walkability to public transportation, shopping, libraries, and government services, making it an ideal urban haven for seniors.