Mission Mavens Do it Again: Another Complex Affordable Housing Project!
The citizens of Spokane are set to benefit from 54 new units of affordable housing for families, thanks to the tireless efforts of non-profit sponsor Proclaim Liberty and their consultants Shannon Meagher and Dave Roberts at Keimle and Hagood Company. The new construction project is part of a campus that includes an existing Section 8 project and an Early Learning Center. Despite the absence of LIHTC equity, the owner team secured six sources of funding, including CHIP funds, State and National Housing Trust Funds, State Capital Grants, City Funds, and 5 units of Project Based Vouchers. The Section 221(d)(4) Loan provided by Centennial Mortgage Inc was instrumental in making this project a reality.
The success of this project was the result of a long-standing relationship between Centennial’s Underwriting team of Sheryldene Rogers and Julie Ellithorpe, Closing team of Jennifer Heckaman and Debbie Gray, and Originations team of Cindy Ross and Sunny Fitzgerald with the Consultant and Sponsor. The team at ZBA Architects, led by Sarah Brede, and TW Clark Construction, were also instrumental in providing guidance and insight over the project’s three-year journey. In the final stretch, the borrower’s counsel, Brian Werst, and Centennial’s Counsel at Kantor Taylor worked together to keep the various funders’ documents synchronized and flowing.
This is a remarkable accomplishment, and it’s heartening to see the community coming together to provide affordable housing for families. Congratulations to everyone involved in this important project!
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