Affordable Housing Loans

Wespath Benefits and Investments and its subsidiaries, including Wespath Institutional Investments, participate in the Positive Social Purpose Lending Program. The information below provides details about a property recently financed through this program.

 

The View – Stone Mountain, GA

View exterior
Photo Credit: Community Development Trust

Through the Positive Social Purpose Lending Program and in partnership with the Community Development Trust, participation was purchased in a loan providing financing for an 80-unit age-restricted affordable housing property for residents aged 62 and over. Seventy-five units are reserved for residents earning up to 60% of the area median income. Project amenities include two elevators, a management office, a fitness center, a business center, a movie theater, a dining hall, green space, community gardens and walking paths. Units feature a full appliance package including dishwashers, garbage disposals, ceiling fans, washer/dryer connections, and central HVAC. The project is EarthCraft Multifamily certified and includes a variety of green design and building features.

Transaction Summary:
 

Property Name: The View
Location: 901 4th Street, Stone Mountain, GA 30083
Units: 80
Loan Amount: $720,000
Term: 18 years
Purchase Date: February 21, 2017

 

For more information about The Community Development Trust: http://www.cdt.biz/

 

Visit our website for Participants, Conferences and Other Plan Sponsors: wespath.org

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