September 17, 2015
Leighton Landing- Big Lake, MN
In partnership with Central Minnesota Housing Partnership (CMHP) The NDC Corporate Equity Fund XI has closed the financial portion of Leighton Landing. The project is located in Big Lake, MN and provides 32 units of affordable housing to low-income families. NDC’s LIHTC investment recapitalized the project and supported the rehabilitation of the townhome units. CMHP will retire existing debt from the original investor in order to preserve financing and keep the development an affordable housing project under LIHTC tenant eligibility.
Kimbark Apartments- Longmont, CO
In partnership with Thistle Communities, The NDC Corporate Equity Fund XI has closed the financial portion of Kimbark Apartments. The project is located in Longmont, CO in an area abundant with shopping, recreation, government services and schools. NDC’s LIHTC investment supported the rehabilitation of 48 units of affordable housing. The improvements to be made under this transaction are to increase resident satisfaction. Thistle Communities will replace the roofs and all of the siding, repair and seal coat the parking lots, repair areas of concrete sidewalks, install new windows and sliding patio doors, update kitchen and baths with new cabinets, counter-tops and new Energy-Star rated appliances, replace flooring, upgrade plumbing and exterior lighting and install carbon-monoxide detectors in all units.