Clearinghouse CDFI (CCDFI) provided a $13,308,500 loan to Blueline Equity Partners to facilitate the acquisition and rehabilitation of a 306-unit multifamily housing complex in Rock Springs, Wyoming. This loan enhances local residential options and fosters community revitalization.
The Rock Springs Apartments have an urgent need to address extensive deferred maintenance issues that have led to a significant number of unrentable units. The efforts to rehabilitate this property include the remodeling of 32 units and significant upgrades to building exteriors and communal amenities. Improvements to this complex enhance the quality of living for current and future residents while providing 306 units of affordable housing for residents earning less than 50% of the Area Median Income (AMI). The renovated units will provide affordable, high-quality housing options, significantly benefiting the local community by addressing its critical need for such accommodations.
Blueline Equity Partners is committed to creating positive community impacts through real estate development. With a strong track record in property redevelopment, they focus on projects that not only yield financial returns but also enhance the quality of life for residents. Their mission aligns closely with CCDFI’s goals of supporting projects that have substantial social benefits, making this collaboration a strategic fit for both parties.
Read the full story here: Just Funded – Rock Springs Apartments
24WY-7700
