December 17, 2012
The National Development Council’s Corporate Equity Fund is proud to congratulate our partners in a successful start to closing three recent CEF Fund investments- Villas at Oakshire Hills, Beecher House and Aeolian Apartments.
Villas at Oakshire Hills- Pueblo, CO
In partnership with the City of Pueblo Housing Authority (PHA) the Corporate Equity Fund (CEF) IX closed the financial portion of the Villas at Oakshire Hills in Pueblo, Colorado, the second phase of a successful affordable family housing project from CEF Fund III. The second phase includes the new construction of 3-bedroom single family houses adjacent to phase I. Villas at Oakshire Hills marks the third project that CEF has funded in collaboration with PHA.
Beecher House Rehabilitation- Somerset, KY
In Partnership with Oracle Design Group, Inc, the Corporate Equity Fund has closed the funding of the Beecher House Rehabilitation. The Senior Housing facility was once a resort hotel in Somerset, KY, and converted to a senior housing facility in the 1970s. This project from CEF Fund X will be a complete rehabilitation of the existing units and a restoration of much of the historic character of the facility.
Aeolian Senior Apartments- Vicksburg, MS
In Partnership with Brownstone Affordable Housing Ltd the Corporate Equity Fund IX, Aeolian Senior Apartments brings a new state into the CEF Portfolio. Located in Vicksburg Mississippi this senior housing project will make use of federal historic tax credits and low income housing tax credits to renovate Aeolian Apartments, a building in the central business district that has sat vacant since 1991. The project will bring additional senior supportive living to an area in need.