WILMINGTON, Del. — Acts Retirement-Life Communities has started a $78 million expansion at Country House, a senior living community in Wilmington. The project will add 20 new cottage homes, 62 independent living apartments and a clubhouse featuring a variety of new amenities to the campus, which is home to approximately 200 residents. The 2,100-square-foot cottages will feature stone finishes, open floor plans, fully appointed kitchens, covered patios and two-car garages. Phase II of the project includes an expanded clubhouse and residential apartments. The clubhouse will include new casual and fine …
Delaware
Lument Provides $8M in Freddie Mac Financing for Affordable Housing Conversion in Delaware
by Jeff Shaw
MIDDLETOWN and SMYRNA, Del. — Lument has provided an $8 million Freddie Mac unfunded forward commitment loan to the Delaware State Housing Authority (DSHA). The permanent financing will pay off construction and renovation debt for a portfolio of three properties. The 106-unit portfolio being renovated comprises Holly Square in Middletown and McLane Gardens and Peach Circle, both in Smyrna. The renovation project consists of substantial interior and exterior upgrades, as well as improved ADA compliance and accessibility for seniors. The three properties will convert from public housing to Section 8-assisted …
Older Posts