Liberty Park Expansion

The citizens of Spokane are about to have 54 new units of affordable housing for families thanks to their dedicated non-profit sponsor, Proclaim Liberty and their driven consultants, Shannon Meagher and Dave Roberts at Keimle and Hagood Company.  The new construction project rounds out a campus that includes existing Section 8 project and an Early Learning Center.  In addition to the Section 221(d)(4) Loan provided by Centennial Mortgage Inc, the owner team obtained six sources of funding including CHIP funds, State and National Housing Trust Funds, State Capital Grants, City Funds along with 5 units of Project Based Vouchers.  This is an amazing accomplishment, considering there was no LIHTC equity.

Centennial’s Underwriting team of Sheryldene Rogers, Julie Ellithorpe, Closing Team of Jennifer Heckaman, Debbie Gray, and Originations Team of Cindy Ross and Sunny Fitzgerald have had a long relationship with Consultant and Sponsor and were more than happy to collaborate with them on the complexities of such an important project.  ZBA Architects,  Sarah Brede and the team at TW Clark Construction have been a part of the team for 3 years as the project gained steam and funding, providing guidance and insight.  And while in the closing homestretch, the borrower’s counsel, Brian Werst and Centennial’s Counsel at Kantor Taylor managed to keep the various funders documents synchronized and flowing.