Rutland Road

S & H recently served as financial advisor to a private developer to preserve an existing 438 unit Mitchell Lama housing project that closed on financing in January of 2016.  The project was redeveloped under the HUD RAD Component Two program and financed by New York State Housing Finance Agency (“HFA”) tax exempt bonds.  The total project development costs were $95.7 million.  S & H assisted the owner is securing $24.8 million in tax credit equity as well as construction financing of approximately $50 million and permanent financing of $32.8 million.