On November 20, 2015, NAHT, The Society and the LIHTC Investors, closed on the equity financing deal to complete the rehabilitation of the property. With proceeds from the Cornerstone/NAHT Enhanced Preservation Fund, NAHT secured $3.3 million of LIHTC equity. NAHT will work with The Society and the LIHTC Investors to ensure the project meets partnership standards and is completed on time.
Paul M. Cummings, a Senior Acquisitions Officer at NAHT who worked closely on this closing had this to add, “America’s senior population is continuing to dramatically increase. And while some have the financial resources to live with dignity after retirement, many do not.” He added “NAHT is proud to partner with The Society and play a major role in securing the future of quality, safe and affordable housing for seniors.”
Located in Boise, Idaho, Samaritan Village Apartments provides affordable (income-based) housing to low-income seniors 62 years and older. The property includes two 50-unit buildings. At the completion of the rehabilitation, Samaritan Village will offer the following amenities on-site: computer center, library, laundry facilities, community garden, community kitchen, activity/game room, fitness center, picnic area, optional meal service and lifeline monitoring.
About The Evangelical Good Samaritan Society
With more than 240 locations across the country, The Evangelical Lutheran Good Samaritan Society is one of the largest not-for-profit providers of senior care and services in the United States. The Society is also a member of Stewards of Affordable Housing for the Future (SAHF).