TD Bank has provided a $28-million loan to Dantes Partners, the Delta Housing Corporation of D.C. and Gilbane Development Company for the complete renovation of a workforce multi-housing community located in Washington, DC.
Hugh Franklin of TD Bank helped secure the financing.
Delta Towers is in the H Street Corridor, and area of rapid investment and rising property values. Initially constructed in 1979 as an affordable housing senior living facility, the 10-story building will be completely renovated into 166 units of workforce housing and amenities, targeting young professionals, police officers, teachers, firefighters and others. Half of the units will be reserved for those who earn no more than 80% of the area’s median individual income of $52,328.
This project is aligned with TD’s corporate citizenship platform to open doors to a more inclusive and sustainable tomorrow through four drivers of change: Vibrant Planet, Connected Communities, Better Health and Financial Security.
Source: connectcre.com
