Rehabilitation and refinancing of a Mitchell Lama financed historic senior apartment community in Clifton Springs, New York. The 2015 rehab project breathed new life into this 109-unit apartment building which has been a fixture of the village since the 19th century.
Location: 11 East Main Street Clifton Springs, NY
Completion: 2015
Number of Units: 109
Project Type: Rehabilitation/Preservation of Rental Housing
Project Cost: $15.6 million
Cornerstone's Role: Developer/Owner & Property Manager
Funding Sources: Tax Exempt Bonds, Historic Tax Credits, Equity, HFA Subsidy, HUD, FHLB