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Senior Apartment Building - LIHTC and FHA Application

Project Location 
West Virginia
Completion Date 
Thursday, October 8, 2020
Project Leads 
Senior Apartment Building LIHTC

About the Project

Partner was engaged to complete due diligence related to a West Virginia State Low-Income Housing Tax Credit (LIHTC) Application and an FHA-Insured Mortgage Application. The subject property consists of 82 dwelling units situated within a mid-rise, five-story senior apartment building. The provided scopes included services such as a Property Condition Assessment, Capital Needs Assessment (CNA) with e-Tool, and a Phase I ESA.

Additional site-related activities included intrusive analysis of the existing structure/façade and MEP (HVAC, electrical and plumbing) systems. A Phase II ESA was completed in addition to Industrial Hygiene services for Radon and Asbestos Containing Materials (ACM), i.e., sampling and Operations and Maintenance (O&M) plans. The property owner successfully closed on the Tax Credit application in the fall of 2020 and has secured a fully amortized loan via FHA-insured financing.

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