NEW YORK: The twenty fifth entry for the seniors housing Global Awards 2017 has been received.
Capital One has provided a $14.4 million HUD 221 fixed-rate construction and permanent loan for Sterling at Candler Village, an affordable senior housing community in Decatur, Ga. The 170-unit community will feature one- and two-bedroom floorplans split between two mid-rise buildings on 5.5 acres of land. There will be 136 units allocated to households earning up to 60 percent of the area median income, while the remaining 34 will be reserved for households earning up to 50 percent. The Benoit Group is developing the project, partnered with the Housing Authority of DeKalb County. Senior Vice President Carolyn Whatley, who specializes in HUD financing, originated the transaction.