Latest news with #AreaMedian
Business Wire
21-05-2025
- Business
- Business Wire
Churchill Stateside Group Closes $10,120,000 Tax-Exempt Permanent Loan for 122-Unit Senior Housing Development in Stonecrest, GA
CLEARWATER, Fla.--(BUSINESS WIRE)--Churchill Stateside Group, LLC ('CSG'), a real estate and renewable energy financial services company, is pleased to announce the closing of a $10,120,000 tax exempt permanent loan on a new 122-unit affordable 4% Low Income Housing Tax Credit senior housing community located in Stonecrest, Georgia. The financing was provided by Churchill Mortgage Investment LLC ('CMI') under CSG's Churchill Private Tax-Exempt Loan Program ('Churchill PTEL'). The project will deliver high-quality, affordable housing for seniors through the development of a modern apartment complex consisting of 20 one-bedroom units and 102 two-bedroom units. All units will be income-restricted to residents earning no more than 60% of the Area Median Income (AMI). The development also received 4% Loan Income Housing Tax Credits. Situated just east of Atlanta in one of Georgia's fastest-growing areas, the community offers close proximity to medical facilities, retail centers such as The Mall at Stonecrest, public transportation, local parks, and entertainment—enhancing access and quality of life for senior residents. Dan Duda, EVP, National Director of Originations and Acquisitions for CSG, stated, 'We are proud to support the creation of quality, affordable housing that allows senior residents to age with dignity and independence in a vibrant community. This project exemplifies our mission to bring lasting impact to underserved populations through strategic financial solutions. Our Churchill Private Tax Exempt Loan program is a great tool for developers to capitalize on long term low interest rate fixed financing.' Keith Gloeckl, Chief Executive Officer of CSG, added, 'With a growing demand for affordable senior housing in Georgia, this community development is a critical step toward addressing the needs of this underserved community. We're proud to partner with a sponsor who shares our commitment to creating high-quality, affordable housing in communities where it's needed most. This closing is a testament to the expertise of our team and our continued focus on financing solutions that make a real difference.' Churchill Stateside Group remains dedicated to providing financial solutions that promote sustainable, inclusive housing opportunities across the nation. Looking to finance your next affordable housing project? Visit or contact our production team at production@ to learn how Churchill can help support your project's success. About Churchill Stateside Group Churchill Stateside Group and its wholly owned affiliates (CSG) serve the affordable housing and commercial renewable energy industries. CSG sponsors tax credit equity investment funds for institutional investors and provides a variety of construction, permanent, and bond financing solutions. With over $6.5 Billion of assets under management, CSG has long-standing and successful investment relationships with numerous corporate investors. The company's investor and developer clients benefit from our experienced staff, prominent and proactive senior leadership, and attractive debt and equity platforms. The company, through its subsidiary Churchill Mortgage Investment LLC (CMI), is an approved USDA Rural Development and HUD/FHA MAP and LEAN lender and Ginnie Mae Issuer, seller, and servicer.
Yahoo
13-05-2025
- Business
- Yahoo
Saddleback Village at Stonegate in Maricopa, Arizona, Breaks Ground on 215 New Affordable Housing Units
Western Alliance Bank Affordable Housing Investments Group Provides $54.8M in Construction Financing PHOENIX, May 13, 2025--(BUSINESS WIRE)--Western Alliance Bank today announced the groundbreaking of Saddleback Village at Stonegate, an affordable housing development in Maricopa, Arizona, located south of Phoenix. Western Alliance Bank provided construction financing for the development. Saddleback Village is being developed by Dominium, a leading national developer, owner and manager of affordable housing. Western Alliance Bank, as construction lender, provided a $54.8 million tax-exempt construction loan, while Walker & Dunlop has arranged $45.7 million in permanent debt and $41.5 million in Low-Income Housing Tax Credit (LIHTC) equity for the project. Through this collaboration, Western Alliance Bank continues to play a leading role in shaping the future of affordable housing in Arizona, ensuring that families across the state have access to quality, affordable living options. "As Arizona's largest locally headquartered bank and the largest bank in Maricopa County, Western Alliance Bank is proud to continue expanding our role as a leading source of financing for affordable housing projects in the Phoenix area," said Philipp Smaczny, managing director of Affordable Housing Investments for Western Alliance Bank. "We look forward to bringing additional, much-needed affordable housing to Maricopa, in partnership with Walker & Dunlop and Dominium." Once completed, the Saddleback Village community will consist of 215 two-, three- and four-bedroom family rental homes in 123 one- and two-story buildings. "Affordable housing is a critical need across Arizona, and Saddleback Village is a strong example of how thoughtful, well-structured financing can help meet that demand," said John Ducey, Chief Production Officer of Affordable Debt & Equity Investments at Walker & Dunlop. "We're proud to partner with Dominium on this important development and thank Western Alliance Bank for its role as construction lender and LIHTC investor and Freddie Mac for its role as permanent debt provider. Together, we're supporting a long-term solution that brings quality homes to families in Maricopa." Under the LIHTC program, 100% of the 215 units will be rent- and income-restricted for households earning at or below 60% of Pinal County's Area Median Income (AMI). This makes it possible to offer the rare opportunity for single-family home-style living at affordable rents, providing families with an alternative to apartment-style living. About Western Alliance Bank With more than $80 billion in assets, Western Alliance Bancorporation is one of the country's top-performing banking companies. Its primary subsidiary, Western Alliance Bank, Member FDIC, offers a full spectrum of tailored commercial banking solutions and consumer products, all delivered with outstanding service by banking and mortgage experts who put customers first. Major accolades include being ranked as a top U.S. bank in 2024 by American Banker and Bank Director and receiving #1 rankings on Extel's (formerly Institutional Investor's) All-America Executive Team Midcap 2024 for Best CEO, Best CFO and Best Company Board of Directors. Serving clients across the country wherever business happens, Western Alliance Bank operates individual, full-service banking and financial brands with offices in key markets nationwide. For more information, visit Western Alliance Bank. About Walker & Dunlop Walker & Dunlop (NYSE: WD) is one of the largest commercial real estate finance and advisory services firms in the United States and internationally. Our ideas and capital create communities where people live, work, shop, and play. Our innovative people, breadth of our brand, and our technological capabilities make us one of the most insightful and client-focused firms in the commercial real estate industry. View source version on Contacts Media contact: Jinine Martin, jmartin@ Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
