That's how the $24 million financing deal shapes up between Related and Capitol on the 324-unit, 14-building Oaks at Brandlewood complex on a 34-acre site, 3.5 miles southwest of Downtown Savannah.
Related is making a $9.9 million equity investment for tax credits to be generated by the project. Charter Mac, a Related company, is providing $13.9 million through a bond purchase.
The units have 773 sf to 1,217 sf of living area. Rents start at $453 per month for a one-bedroom units. Most of the units will be rented to tenants earning 60% or less of the area's median income.
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