Greystone has recently secured a $6 million loan through Freddie Mac’s Optigo Targeted Affordable Housing (TAH) program to finance two permanent supportive living properties located in Harlem. The loan, originated by Avi Lifshitz on behalf of David Levitan from Liberty One Group, will support 34 units across two five-story buildings situated on West 133rd Street.
These properties are operated by Urban Resource Institute in partnership with NYC’s Department of Homeless Services and offer a variety of studio, one-bedroom, and two-bedroom units equipped with private bathrooms and kitchens.
According to Peter Lillestolen, the vice president for Multifamily Production & Sales at Freddie Mac’s Targeted Affordable Housing division: “As part of our Equitable Housing Finance Plan and core mission at Freddie Mac, we strive to promote equity, affordability,and sustainability for families residing in traditionally underserved communities.” He further added that “Permanent Supportive Housing is an essential solution for vulnerable populations,” expressing pride over being involved in such creative partnerships like this one where they can work together towards bringing supportive living communities into existence. (Photo: Avi Lifshitz)
The article titled “Greystone Provides $6M for Harlem Supportive Living Buildings” was originally published on Connect CRE.
