Tax-Exempt and Taxable Bonds Finance Construction Costs for 387-Unit Community
New Affordable Housing Coming to Sacramento with $153.6 Million in Financing from Greystone affiliate, America First Multifamily Investors
NEW YORK, Nov. 22, 2022 (GLOBE NEWSWIRE) — Greystone affiliate, America First Multifamily Investors, L.P. (NASDAQ: ATAX) (“ATAX”) has announced that it has provided $153,637,000 in tax-exempt and taxable construction loans for a new 387-unit affordable housing community in Elk Grove, California. This financing will help address the growing need for affordable housing in the area.
Innovative Financing Solutions
By utilizing a combination of tax-exempt and taxable bonds, ATAX is able to provide the necessary funding to support the construction costs of this much-needed housing development. This innovative financing solution allows for the creation of high-quality, affordable housing units that will benefit the community for years to come.
Impact on Sacramento
The construction of this new affordable housing community will have a significant impact on the Sacramento area. With 387 units available to low- and moderate-income residents, this development will help address the housing crisis in the region and provide much-needed stability for families in need of affordable housing options.
Impact on the World
Projects like this one demonstrate the positive impact that can be achieved when private companies, government entities, and community organizations come together to address critical social issues. By investing in affordable housing, ATAX is not only helping individuals and families in need, but also contributing to the overall health and well-being of the community.
Conclusion
The financing provided by Greystone affiliate, America First Multifamily Investors for the construction of a new affordable housing community in Elk Grove, California is a shining example of how innovative financial solutions can make a real difference in people’s lives. By leveraging tax-exempt and taxable bonds, ATAX is able to support the development of much-needed affordable housing units that will benefit the Sacramento community and serve as a model for future housing projects.
