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.

 

Santa Fe Community Living – Santa Fe, New Mexico

Santa Fe exterior
Image Source: The 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 five scattered site rental developments in Santa Fe, NM. The project contains 120 units of which 118 are restricted to tenants with household incomes up to 60% of the area median income. 5% of the units are set aside for special needs households. The project is receiving Federal Solar Energy Credits due to the 792 solar panels installed at three of the properties which generate enough energy to power 46 homes per year.

Transaction Summary:
 

Property Name: Santa Fe Community Living
Location: Santa Fe, New Mexico
Units: 120
Loan Amount: $2,700,000
Term: 18 years
Purchase Date: July 28, 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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