PROJECT EXPERIENCE

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2024 LIHTC Award (4%)

Provo Commons is a 129-unit, new construction development on a blighted infill site in Provo, Utah. The first recent affordable development in an area with booming market-rate multifamily development will provide much-needed workforce housing in this area. This project will target households at 50%, 60%, and 70% of area median income. The development will be financed with Low-Income Housing Tax Credits and HUD 221(d)4 insured mortgage financing. Park Terrace served as a tax credit consultant to the owner/developer, preparing the tax credit application, and securing the financing on behalf of its client.

2023 LIHTC Award (4%) and HUD Choice Neighborhoods Implementation Grant Awardee 

Bowen Homes is a former public housing development that was demolished years ago. The site, in Atlanta, Georgia, was the recipient of a HUD Choice Neighborhoods Implementation Grant for the purpose of rebuilding housing on the site and improving the surrounding neighborhood. Park Terrace served as part of a team which represented the owner in securing LIHTCs and tax-exempt bond financing for the first phase of this transformational project. Bond financing was awarded through Invest Atlanta and the Atlanta Housing Authority was also a participant in the project.

2023 LIHTC Award (9%)

Park at Solomon is a 69-unit, new construction development targeted to families in Griffin, Georgia. This project will consist of a single newly-constructed building with internal leasing office, community spaces, commercial component, and attractive amenity package. The development will be financed with Low-Income Housing Tax Credits and conventional mortgage financing. Park Terrace served as a tax credit consultant to the owner/developer, preparing the tax credit application, and securing the tax credit award on behalf of its client. Park Terrace continues to serve in an owner’s representation role on this project, working through design, financing, closing, and will manage the project through construction.

2023 LIHTC Award (4%)

Parc at Rosenwald is a 166-unit, new construction development on two separate sites in Griffin, Georgia. This project will consist of several newly-constructed buildings designed for family tenancy, with an historic school building renovated to become the clubhouse and an attractive amenity package. The development will be financed with Low-Income Housing Tax Credits and conventional mortgage financing. Park Terrace served as a tax credit consultant to the owner/developer, preparing the tax credit application, and securing the tax credit award on behalf of its client. Park Terrace continues to serve in an owner’s representation role on this project, working through design, financing, closing, and will manage the project through construction.

2022 LIHTC Award (4%)

Avalon at Montreal was a proposed rehabilitation of a 168-unit existing apartment community in Clarkson, Georgia. Park Terrace assisted with the successful application for private activity bonds and housing credits. While the developer ultimately decided to return the bond allocation and credits due to issues unrelated to our work, we are proud to have secured this financing award for our clients.

2022 LIHTC Award (4%)

Magnolia Heights is a 200-unit multifamily affordable housing community in Covington, Georgia. This project consists of the resyndication and renovation of several existing buildings designed for family tenancy, including renovations to the clubhouse and a new or improved amenity package. The development will be financed with Low-Income Housing Tax Credits and conventional mortgage financing. Park Terrace initially served as a tax credit consultant to the owner/developer, securing the tax credit award on behalf of its client, then transitioned into an ownership role after its merger with the client. Park Terrace also served in an owner’s representation role on this project, working through design, financing, closing, and managed the project through construction.

2021 LIHTC Award (9%)

Gateway at Charleston is a 69-unit multifamily affordable housing community in Charleston, South Carolina. This project will consist of a single newly-constructed building designed for seniors. The development will be financed with Low-Income Housing Tax Credits and conventional mortgage financing. Park Terrace served as a tax credit consultant to the owner/developer, sourcing the site and securing the tax credit award on behalf of its client.

2021 LIHTC Award (9%)

Gateway at The Green is a 72-unit multifamily affordable housing community in Greenville, South Carolina. This project will consist of newly-constructed buildings and amenities for family occupancy. The development will be financed with Low-Income Housing Tax Credits, a loan from the local Housing Fund, and conventional mortgage financing. Park Terrace served as a tax credit consultant to the owner/developer, sourcing the site and securing the tax credit award on behalf of its client.

2021 LIHTC Award (9%)

Hearthside Riverdale is a 70-unit new construction affordable housing development in Riverdale, Georgia. The project is a single, four-story building serving senior households at multiple income levels. The development is financed with competitive 9% LIHTCs, CDFI financing, and a conventional mortgage. Park Terrace served as a tax credit consultant to the owner/developer.

2021 LIHTC Award (4%)

Kenyon at Cross Creek is a 168-unit multifamily affordable housing community in Central, South Carolina, a submarket of the Clemson, South Carolina area. This project will consist of several newly-constructed buildings designed for family tenancy, with a clubhouse and attractive amenity package. The development will be financed with Low-Income Housing Tax Credits and conventional mortgage financing. Park Terrace served as a tax credit consultant to the owner/developer, sourcing the site and securing the tax credit award on behalf of its client.

2021 LIHTC Award (4%)

Dunbar Place Apartments is a 100-unit multifamily affordable housing community in Rock Hill, South Carolina. The project will consist of two newly-constructed buildings designed for family tenancy, with a community/leasing area and attractive amenity package. The development will be financed with Low-Income Housing Tax Credits and conventional mortgage financing. Park Terrace served as a tax credit consultant to the owner/developer, securing a competitive award of tax-exempt bond cap and 4% tax credits on behalf of its client.