James Place was constructed in 1986 under the HUD 202 program. The project consists of 56 units covered by a section 8 HAP contract.
Centennial assisted the client refinance the project under the 223(f) program totally $2,908,000.
The 1st time refinance allowed the project to complete the needed upgraded and repairs to a total of $1,366,437 ($24,401/unit). This allowed the project to meet new accessibility requirements, upgrade the units HVAC system, floors, kitchens, and bathrooms. These repairs extended the properties useful life and allowed the project to continue offering quality very-low-income housing.