Latest news with #PhilippSmaczny
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
Business Wire
08-05-2025
- Business
- Business Wire
Western Alliance Bank-Funded Danny's Home for Heroes Celebrates Grand Opening
PHOENIX--(BUSINESS WIRE)-- Western Alliance Bank today announced the grand opening of Danny's Home for Heroes in Quartz Hill, California, with construction-to-permanent financing provided by the Western Alliance Affordable Housing Investments Group in partnership with R4 Capital Funding. Western Alliance Bank-Funded Danny's Home for Heroes Celebrates Grand Opening Western Alliance invested $20.9 million in tax-exempt and taxable construction-to-permanent bonds to finance the new construction of the three-story residential building, located at 4856 West Avenue L-14 in Quartz Hill. Danny's Home for Heroes includes 35 furnished one-bedroom units for homeless and formerly homeless veterans and their families. The 735-square-foot units are restricted to residents earning 30%-50% of the Area Median Income (AMI). 'Western Alliance Bank has a significant presence in Los Angeles County, and we are a leading source of financing for affordable housing projects in Southern California,' said Philipp Smaczny, managing director of Affordable Housing Investments for Western Alliance Bank. 'We are proud to assist Danny's Home for Heroes in offering a safe and welcoming environment that supports veterans to maintain stable housing and build their futures.' In addition, more than $15.5 million of equity was raised from investments in 4% Federal and State Low-Income Housing Tax Credits and solar investment tax credits provided by R4 Capital. The 35 units at the property will be covered under a new 20-year HUD-Veterans Affairs Supportive Housing (HUD-VASH) Project-Based Assistance Payment Contract. Through this project-based voucher partnership program, the Los Angeles Community Development Authority (LACDA) partners with the Department of Veteran Affairs (VA) to provide rental assistance to units leased to eligible veterans. The property also includes one non-revenue-producing manager's unit, as well as supportive services to help veterans transition into civilian life with dignity and support. In addition to transitional housing, the property offers counseling services and job training programs to address the unique needs of veterans. About R4 Capital R4 Capital is a nationwide affordable housing investor, lender, loan servicer, and asset manager. Founded in 2011, the firm manages more than $10.9 billion of affordable housing equity and debt investments, including $6.7 billion of LIHTC equity and more than $4.2 billion of tax-exempt debt through R4 Capital Funding. R4 Capital's growing investment portfolio spans 49 U.S. states and territories, and consists of more than 70,000 units of affordable housing. R4 Capital has offices in New York, NY, Boston, MA, Newport Beach, CA, and Austin, TX. Learn more at 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.
