Saturday, December 19, 2015

New 64-Unit Affordable Housing Community Completed in Upstate New York; WNC provided $7.1 million in LIHTC equity to fund Homesteads on Ampersand

Michael Gaber
PLATTSBURGH, New York –– WNC, a national investor in real estate and community development initiatives, announced the completion of Homesteads on Ampersand, a newly constructed 64-unit affordable housing community in the northeastern town of Plattsburgh, New York.

WNC provided approximately $7.1 million in low-income housing tax credit (LIHTC) equity to fund the new development.

“WNC is delighted to announce the completion of Homesteads on Ampersand, a high quality affordable housing community with modern amenities,” said WNC Executive Vice President and Chief Operating Officer Michael Gaber

“Demand for affordable housing continued to outpace supply throughout the nation, and we couldn’t be happier to help deliver this new community to the residents of Upstate New York.”

Located at 292 Rugar St., Homesteads on Ampersand is an eco-friendly community that includes four two-story buildings comprised of 24 one-bedroom, 20 two-bedroom, and 20 three-bedroom units, as well as a community building. The project was developed by Regan Development Corporation over the course of approximately one year.

For a complete copy of the company’s news release, please contact:

Julie Leber
Spotlight Marketing Communications
949.427.5172 ext. 703

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