Provident Bank committed to providing the loan to AmeriDream Inc., a nonprofit organization promoting the expansion of affordable housing. "Provident's loan will help with all aspects of the development and will help to ensure affordability of the Woodson Heights homes," says Carol Parker-Perez, AmeriDream CFO.
Covering an entire city block, the housing development that will become Woodson Heights fronts C Street in the southeast neighborhood of Marshall Heights/ Eastgate. The Jair Lynch Cos. has teamed up with the Marcus Asset Group to develop the new affordable housing property, which will include three rehabilitated Amber Overlook structures; the remaining eight structures that made up Amber Overlook will be demolished.
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