Congratulations to the Everett Housing Authority! They embarked on a bold plan to redevelop their public housing in the Baker Heights neighborhood under HUD’s Section 18 program with the vision of replacing the obsolete buildings and creating 105 new units of service enriched housing for low-income families.
Centennial Mortgage provided an FHA 221(d)(4) mortgage to collateralize the Tax Exempt Bonds underwritten by RBC Capital Markets, Low Income Tax Credit Equity was provided by RBC Community Investments and additional funding was provided by the Washington State Housing Trust Fund and Snohomish County HOME funds.
We are grateful to the Everett Housing Authority for trusting us to be part of their mission and we are honored to have been part of the amazing team of people who put their all into making this transaction happen.
- Project Name Baker Heights
- Project Location Everett, WA
- Loan Amount $18,437,000
- Originator Sunny Fitzgerald