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