Developments > Lyman School Apartments
Lyman School Apartments’ financial structuring involves the prepayment of the existing HUD 202 Loan and replacing it with tax exempt bond debt, equity from the sale of 4% Low Income Housing Tax Credits, Federal Historic Tax Credits and State Historic Tax Credits and take back note from the current owner that will be paid from cash flow.
Lyman School Apartments
Project at a Glance:
Location:
Boston
Development Type:
Rental,Senior Housing
MHIC Financing:
$3,654,673 in LIHTC financing
Sponsor:
East Boston Community Development Co.
Number of Units:
45
Date Completed:
11/27/2017
Lyman School Apartments’ financial structuring involves the prepayment of the existing HUD 202 Loan and replacing it with tax exempt bond debt, equity from the sale of 4% Low Income Housing Tax Credits, Federal Historic Tax Credits and State Historic Tax Credits and take back note from the current owner that will be paid from cash flow.