Upstate

Vestal Pines

Client
First Ward Action Council, Inc. (FWAC)

Funding Sources
NBT Bank, N.A. construction loan, Enterprise Community Investments ﾖ 9% tax credit equity, New York State Housing Trust Fund permanent loan and developerﾒs equity.

Description
This project consists of the new construction of one building to create 24 units of low and very low-income units for the elderly, located in Vestal, New York. All units have central air, Energy-Star appliances, high-speed internet and are handicapped accessible.

Schoolhouse Apartments

Client
First Ward Action Council, Inc. (FWAC)

Funding Sources
NBT Bank, N.A. construction loan, Enterprise Community Investments – 9% tax credit equity, New York State Housing Trust Fund permanent loan, City of Binghamton HOME funds, Tioga Weatherization Grant and developer’s equity.

Description
The Schoolhouse Apartments were developed through the rehabilitation and historical preservation of the St. Cyril Catholic School located in Binghamton, New York. The units are occupied by individuals 55 years of age or older and seven of the units are occupied by individuals whose incomes are 50% or less of the area median income.