AHC secures $16M for affordable housing
June 20th, 2010
AHC Inc. has secured $16 million in financing from SunTrust Bank for pre-development and construction of more affordable housing projects in the region, and the group is on the prowl for new sites.
With the largest bank agreement it has secured to date, AHC hopes to use the funds to act more quickly when it identifies new sites for affordable housing in the region.
AHC will use $15 million to finance projects and $1 million for pre-development costs.
SunTrust and AHC partnered in 2009 on the $2.3 million Davis Place project, which included 10 condominium units, in Arlington’s Nauck neighborhood.
Filed under: legal by Finance Boss