$1,900,000 acquisition loan – 70,000 SF commercial space
RUPCO has long been a leading provider of affordable housing in Kingston and across New York’s Hudson Valley. Recently, RUPCO decided to expand its focus, developing a creative placemaking strategy to link housing to economic development. Leviticus partnered with NeighborWorks Capital to provide $1.9 million in acquisition financing, and helped RUPCO take its first step in this expansion by enabling it to acquire a vacant warehouse to convert into sound stage and post-production space for a nonprofit film company.
In bringing the economic potential of the film and television industries to Kingston, RUPCO can create access to entertainment and technology jobs and workforce training for residents in the region and build on the impact of its affordable housing.