Former Maine Church Becomes Senior Housing Community
- Nov 23, 2017
Following the completion of a 188-unit affordable community in Santee, Calif., WNC has also finalized the construction of St. Ignatius, a 66-unit senior housing community in Sanford, Maine.
WNC provided approximately $8.6 million in LIHTC equity to help fund the project. DBH Management II Inc., a Portland, Maine-based nonprofit, received financing for the construction of the property on the site of a former church. David Twomey, CFO & COO of the Roman Catholic Diocese of Portland, served as the developer of the project.
Located at 6 St. Ignatius St., the affordable community provides easy access to Interstate 95 and to several dining and shopping options. The property features 65 one-bedroom units and one studio apartment. Amenities include:
- onsite management
- a community room
- centralized laundry room
- social services
- controlled entry
“This was a unique project that included renovating the existing church building and combining it with new construction to produce the St. Ignatius senior housing community. The completion of St. Ignatius will assist in meeting the current need for senior housing in the area, and will also aid in the revitalization of the City of Sanford,” said WNC Executive Vice President & COO Michael Gaber, in a prepared statement.
St. Ignatius will be restricted to residents age 55 and older, who earn 50 to 60 percent of the area’s median income.
Image courtesy of WNC