Loan Amount and Type
$3,467,500 Acquisition Loan
Loan Use
Acquisition and initial stabilization of a 3- story mixed-use building.
Borrower/Sponsor
RHOW Properties, led by Reggie Howard, a Nashville-based developer.
Affordability
All 12 residential units currently rent below 60% AMI. The Sponsor intends to preserve 60% AMI affordability.
Impact
The project preserves naturally occurring affordable housing in the historic Jefferson Street corridor, a neighborhood experiencing rapid gentrification. The Fund’s financing provides “but-for” early-stage capital that is not available through conventional lenders.
