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| Michael Gaber |
CELINA, TN – WNC, a
national investor in real estate and community development initiatives,
announced the renovation of Southern
Oaks Apartments, a 42-unit affordable housing community in Celina,
Tennessee, has been completed. WNC provided approximately $3.1 million in
low-income housing tax credit (LIHTC) equity to fund the rehabilitation
project.
“With the demand for
affordable housing continuing to grow across the nation and outpace the
development of new stock, it’s increasingly important to preserve and protect
existing LIHTC communities,” said WNC Executive Vice President and Chief
Operating Officer Michael Gaber. “We
are very pleased to announce the renovation of Southern Oaks Apartments, which
provides quality, safe affordable homes to families in need.”
Located at 1001 Gainesboro
Highway, Southern Oaks Apartments is comprised of eight resident buildings and a
clubhouse. Community amenities include a laundry facility, computer center,
playground and picnic area.
Southern Oaks Apartments
is available to families with incomes at 50 percent and 60 percent of the
area’s median household income level.
CMS Real Estate
Development LLC served as the developer for the renovation project.
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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