US EditionCinnaire Provides $38M to Preserve Affordable Housing at Countryside Townhouses Near Grand Rapids
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Cinnaire Provides $38M to Preserve Affordable Housing at Countryside Townhouses Near Grand Rapids
KENTWOOD, MICH. — Cinnaire has provided a $12 million Low-Income Housing Tax Credit equity investment as well as a $23.5 million loan with its partners CPC Mortgage Co. to support the preservation and rehabilitation of Countryside Townhomes, a 146-unit affordable housing community in Kentwood near Grand Rapids. The financing package also included a nearly $3 million equity bridge loan. Countryside Townhomes was originally built in 1971 as a Sect…
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