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$13M Loan Comes Online for Affordable Housing Project

WASHINGTON, DC-A $13-million construction loan from Provident Bank is put in place for the development of Woodson Heights, a 106-unit affordable housing complex. The project will allow AmeriDream Inc. to replace a 11-struture development with the new residences.

By Barbra Murray | Updated on April 08, 2005

WASHINGTON, DC-The recent placement of a $13-million loan has paved the way for the 141-unit multifamily compound once known as Amber Overlook to become Woodson Heights, a new 106-unit condominium and townhome property.

Provident Bank committed to providing the loan to AmeriDream Inc., a nonprofit organization promoting the expansion of affordable housing. “Provident’s loan will help with all aspects of the development and will help to ensure affordability of the Woodson Heights homes,” says Carol Parker-Perez, AmeriDream CFO.

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