The BLVD Group has made a significant move in the housing market by acquiring an apartment community in Rhode Island for $57 million. This strategic acquisition aims to enhance the community’s living standards and accessibility by implementing extensive renovations. The funding for both the acquisition and subsequent renovations is being provided through Low Income Housing Tax Credits (LIHTC) and tax-exempt bonds, demonstrating the organization’s commitment to affordable housing initiatives. This financing method not only supports the development of low-income housing but also alleviates some of the financial burdens typically associated with large-scale renovations.
Key Points:
– **Acquisition Details**: The BLVD Group acquired a Rhode Island apartment community for $57 million.
– **Renovation Goals**: The renovation efforts aim to improve living conditions and accessibility for residents.
– **Financing Methods**: Funding is sourced through Low Income Housing Tax Credits and tax-exempt bonds.
– **Commitment to Affordable Housing**: The project highlights a strong commitment to enhancing low-income housing availability in the area.
You can read this full article at: https://wrenews.com/the-blvd-group-acquires-rhode-island-apartment-community-for-57-million/
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