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 Reserve at Mills Creek – Scottdale, GA

Reserve at Mills Creek exterior
Image Source: Spectrum Field Services, Inc.

Through the Positive Social Purpose Lending Program and in partnership with The Community Development Trust, participation was purchased in a loan providing financing for a 100-unit rental property in Scottdale, GA. The project is age-restricted to tenants 62 and older with household incomes up to 60% of area median income. The Reserve at Mills Creek is part of the redevelopment of Tobie Grant Manor, a 780-unit public housing project built in the late 1960s. Common area amenities include secured building entry, community garden, media room, library, fitness center, business center and a covered patio with seating. Unit amenities include energy star appliances and washer and dryer connections.

Transaction Summary:
 

Property Name: The Reserve at Mills Creek
Location: 3218 Tobie Circle, Scottdale, GA 30079A
Units: 100
Loan Amount: $2,025,000
Term: 18 years
Purchase Date: April 27, 2017

 

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

 

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

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