$1,350,804 predevelopment loan – 45 rental/supportive housing units, 3880 SF commercial space
“The City of Elmira chose us to work with them on their South Main Street corridor because they saw a real need for quality affordable housing and neighborhood-based infill development. South Main needs help, but it also has some assets and a great location. We’re planning to build on its assets to revitalize the community, including the construction or redevelopment of eight buildings into 45 low-income housing units and two commercial spaces. Being a nonprofit at our scale, we’re not sitting on piles of capital and there are not a lot of lenders who support this really important work. We really needed this predevelopment loan from Leviticus to complete our architecture and engineering and to move toward the construction phase.”
“This corridor has some great attributes—we are just filling in the gaps. By doing so, we think we can help the city turn this neighborhood around.”
Ben Lockwood – Housing Visions, Inc.
