Loan Amount: $2,950,000
Developer: Ovation Property Management
The Winterwood Senior Apartments is a 142-unit multifamily development providing 124 affordable housing units (87.32% of total) restricted to tenants with household incomes between 40% and 50% of the area median income, featuring a mix of one-bedroom and two-bedroom units in two three-story buildings with elevators for seniors 55+. It targets senior households, offering affordability with an average rent targeting 45.41% AMI, while 18 units are market rate to support financial viability.