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North Carolina

MCR provided a full scope of preservation services for the restructuring of this aged Section 236 property with partial Section 8 assistance.  Formerly known as Oak Knoll Apartments, the project extended affordability restrictions through a refinancing with the North Carolina Housing Finance Agency, who also awarded an allocation of 4% Low Income Housing Tax Credits (LIHTCs).  MCR processed the owner's Budget-to-Market HUD rent increase request for approval simultaneously with new state financing and provided a full technical support program to the local housing authority and resident management staff to insure full implementation of the new Section 8 Enhanced Vouchers.

MCR provided a full scope of preservation services for the restructuring of this Section 236 property, formerly known as Hardee Street Apartments.  The project extended affordability restrictions through a refinancing with the North Carolina Housing Finance Agency who also awarded an allocation of 4% Low Income Housing Tax Credits (LIHTCs) to fund a substantial rehabilitation plan.  MCR processed the owner's Budget-to-Market HUD rent increase request for approval simultaneously with new state financing and provided a full technical support program to the local housing authority and resident management staff for the issuance of new Section 8 Enhanced Vouchers.  MCR also sponsored two on-site tenant information meetings during the development process.

MCR provided a full scope of preservation services for the restructuring of this aged Section 236 property with partial Section 8 assistance.  Facing the need to refinance this property, formerly known as Catawba Arms Apartments, in order to fund a substantial rehabilitation program, the owner utilized new tax-exempt financing and 4% Low Income Housing Tax Credits (LIHTCs), extending affordability for an additional thirty years.  MCR processed the owner's Budget-to-Market HUD rent increase request for approval simultaneously with new state financing, and provided a full technical support program to the local housing authority and resident management staff to insure full implementation of new Section 8 Enhanced Vouchers.

This partially-assisted family oriented rental community, formerly known as Hanover Gardens, faced the expiration of existing use restrictions and the need to refinance in order to fund long-deferred capital improvement needs.  The project turned to a refinancing with the North Carolina Housing Finance Agency who also awarded an allocation of 4% Low Income Housing Tax Credits (LIHTCs) to fund the buyer's substantial rehabilitation plan.  MCR processed the owner's Budget-to-Market HUD rent increase request for approval simultaneously with new state financing and provided a full technical support program to the local housing authority and the resident management staff for the issuance of new Section 8 Enhanced Vouchers.  MCR also sponsored two on-site tenant information meetings during the development process.