Wednesday, June 29, 2016

New Affordable Senior Housing Development Complete in Iowa; WNC provided approximately $5.9 million in LIHTC equity to fund construction of the 48-unit community

Michael Gaber
DES MOINES, IA, (June 29, 2016) – WNC, a national investor in real estate and community development initiatives, announced today that Legacy Manor of Mason City II, a 48-unit newly constructed affordable senior housing community, is complete in Mason City, Iowa.

WNC provided $5.9 million in LIHTC equity to fund the development, located approximately 120 miles north of Iowa’s capital city, Des Moines.

Legacy Manor of Mason City II is a three-story, elevator-serviced building comprised of two-bedroom apartment homes with approximately 800 square feet of space for seniors aged 55 and older. 

“Legacy Manor is an upscale senior housing community with numerous amenities and scenic views for residents and their visitors to enjoy,” said WNC Executive Vice President and Chief Operating Officer Michael Gaber. “The community provides seniors with a safe and quality home that is within their means. We couldn’t be happier to help deliver these homes to local residents in need.”

Located at 3310 9th St. Southwest, community amenities at Legacy Manor of Mason City II include onsite management, a clubhouse, fitness center, business center, picnic area, gazebo, community garden, beauty salon, library and walking trails. Individual units include an electric range and other kitchen appliances, washer and dryer, central air conditioning and ceiling fan.

Anchor Housing Development LLC received the LIHTC equity to construct Legacy Manor of Mason City II. Daniel Tonnesen acted as the project developer for the development, which took one year to complete.  

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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