FORT LAUDERDALE-Housing Trust Group has obtained a $38.6-million mortgage from U.S. Bank for its Village Place senior affordable housing project here.
Construction on the 112-unit development is underway and the community should be completed by the summer of 2014, according to the South Florida Business Journal.
Miami-based Housing Trust Group secured a $13.2-million construction loan from U.S. Bank, $3 million in permanent debt financing from bank subsidiary U.S. Bancorp Community Development Corp., and $22.4 million of equity from the Low-Income Housing Tax Credit program. See story in the South Florida Business Journal.
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