BWE recently closed a $4.5 million loan to provide long-term financing for Legacy at Walton Trail, an affordable housing development specifically targeted for seniors in Villa Rica, GA. Victor Agusta Jr., Executive Vice President of BWE’s Raleigh office originated the Freddie Mac Targeted Affordable Housing loan on behalf of Walton Communities.
Legacy at Walton Trail is comprised of 90 one and two bedroom apartments built on the site of obsolete public housing and available to adults aged 55 or older who earn between 30 percent and 80 percent area median income (AMI). A portion will also be subsidized with a long-term Section 8 contract.
The loan includes an 18 year term with 35 year amortization as well as 9% Low Income Housing Tax Credits (LIHTC) from The Housing Authority Of Villa Rica .
