Hi-Rise Manor Apartments (Phase 1)

Located in Portage County, Wisconsin. (Stevens Point)

36 units of older adult housing rehabbed in Stevens Point, Wisconsin. Public Housing. $2.3 million in 2004 Federal Low Income Tax Credits. $907,093 Capital Funds Finance Loan proceeds. $3,152,419 total development cost.

• One of the first smaller projects to pair Section 42 tax credits with HUD’s Capital Funds Finance Program. Used as a HUD Case Study for Maximizing Leverage. Visit Hud CFFP/MF Modernization Transactions.
• Major remodel reduced the number of units from 49 to 36. Units were combined to create larger, fully accessible units.

 
“Thank you for the help with our tax credit project! …we could never have pulled it off without your diligence to detail. Your knowledge of WHEDA’s requirements (and its’ personalities) made the process seem easier than I know it really was …”

James Hamilton, Executive Director
Stevens Point CDA