Partners secure $71M to acquire, preserve affordable Westchester rental
LIHC Investment Group and Silver Street Development Corporation have acquired a 134-unit low income housing development in Tuckahoe, NY, for $54.5 million The joint venture secured $71 million in financing to acquire and preserve Marble Hall Apartments as affordable housing through at least 2060 while investing $5.78 million in upgrades and improvements over the next ten months. “The preservation of Marble Hall guarantees the availability of affordable, healthy homes well into the future while providing peace of mind for our residents during a time of uncertainty for many American families...
Source: rew-online.com