Sunday, January 25, 2015

WNC provides $7.5 million in LIHTC equity to fund affordable housing units at new Wiley Plaza

  
North Main Street and East First Avenue, Hutchison, KS

Greg Hand
 HUTCHINSON, KS – WNC, a national investor in real estate and community development initiatives, announced that the renovation of the historic Wiley Building, including the development of 40 affordable housing units, is complete.

WNC provided $7.5 million in low-income housing tax credit (LIHTC) equity to fund the adaptive reuse of the building, originally constructed more than 100 years ago. 

Reintroduced as Wiley Plaza, the property is comprised of ground-floor and mezzanine retail space, five floors of affordable housing units, and two floors, plus a penthouse, of market rate apartments. Wiley Plaza also includes a new multi-level parking garage with 104 parking spaces.

Wiley Plaza’s one-, two- and three-bedroom affordable housing units are open to individuals and families. Common amenities of the elevator-equipped building include on-site management, a community room, fitness center, computer center, elevators and security cameras.

Located at the intersection of North Main Street and East First Avenue, the eight-story building was originally built in 1913 and was expanded twice in the 1930s.

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

Julie Leber
Account Manager
Spotlight Marketing Communications
18101 Von Karman Avenue, Suite 330
Irvine CA 92612
949-427-5172, ext. 703
509-338-5676 - cell

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