NewVue Communities
Loan Approved: July 3, 2018
MHP committed to a $500,000 permanent first mortgage loan to NewVue Communities for an adaptive reuse project to build 39 rental units with 66 parking spaces and various other amenities.
TYPE: Adaptive reuse
WHAT: Adaptive reuse of a historic school building into 39 units of residential rental units.
AFFORDABILITY: At least 16 units will be affordable to households earning at or below 60 percent of the area median income (AMI).
MHP FINANCING: A permanent first mortgage loan of $500,000.