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National Church Residences and NAHT Close Putnam Howe and Parkside

Columbus, OH. Friday, October 23, 2015. – In partnership with National Church Residences, NAHT is pleased to announce two closings: Putnam Howe Village Senior Housing and Parkside Manor Senior Housing.

NAHT and National Church Residences closed on a deal to complete the rehabilitation of Putnam Howe Village on July 24, 2015. Making $3.5 million of LIHTC equity available for the project, NAHT secured investments under the Cornerstone/NAHT Enhanced Preservation Fund. Located in Belpre, Ohio, Putnam Howe Village is a low-income senior-only living facility which consists of 51 units and offers on-site services to its tenants. It was originally built in 1983 and has been a part of the Belpre community for over 30 years.

On October 09, 2015, a deal was closed to complete the rehabilitation of Parkside Manor. With a secure investment under the NHT-RBS Citizens 31 Tax Credit Fund, $6 million of LIHTC equity was given to National Church Residences to complete the project. Located in Pittsburgh, Pennsylvania, Parkside Manor is a 76-unit senior-only living facility that offers on-site services to its tenants. It was originally built in 1982.

As the low-income housing tax credit (LIHTC) syndicator, NAHT will continue to work with National Church Residences and the LIHTC Investors to ensure both projects meet partnership standards and are completed on time.

For his part, NAHT’s President and CEO, Jim Bowman said “National Affordable Housing Trust (NAHT) has a long-standing partnership with National Church Residences. Over many years, both organizations have diligently banded together to preserve and build affordable housing for low-income individuals.” He added “We are happy to continue this relationship with National Church Residences with the sole mission of making safe sustainable housing available to all people.”

National Church Residences is one of the nation’s largest not-for-profit provider of affordable senior housing and services. With 340 communities in 28 states and Puerto Rico, National Church Residences also provides health care in Ohio, including the operation of continuing care retirement communities and permanent supportive housing for the formerly homeless and disabled. National Church Residences is also a member of Stewards of Affordable Housing for the Future (SAHF).