PNC Bank recently closed a $128 million fund to develop and rehabilitate hundreds of affordable housing units across eight states, bolstering efforts to address critical housing needs nationwide. The fund, supported by PNC and four institutional investors, targets housing for families, seniors, and individuals with special needs.
The fund will finance several affordable and specialized housing projects, including the Lewis Lofts in Mankato, Minnesota—a 64-unit development catering to seniors, individuals experiencing homelessness, and persons with disabilities. Some units will be subsidized through the Skyline Housing Support Program, offering onsite services to help tenants maintain stable, independent living.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
