Homestead Capital In the Midst of Several More Investments

PORTLAND-Homestead Capital will provide $15 million in the coming weeks to fund four more affordable housing projects throughout the Northwest. The locally based tax credit syndicator provides equity exclusively for multifamily projects on behalf of its investors, predominately banks.

In the largest of the upcoming investments, it is providing $5.6 million or nearly 60% of the total project cost for Villa de Mariposas, a 71-unit affordable project in Portland being developed by Hacienda Community Development. Construction on the two-, three- and four-bedroom units is slated to get underway this summer.

Two more projects are scheduled to be funded this month. Homestead says it will provide $4.45 million in equity for a $5.9-million, 63-unit project by Rembold Cos. in Klamath Falls, OR, and $2.2 million for the bulk of a 25-unit senior housing project in Benton City, WA, that is being developed by Richmond Housing Authority.