Concern Logan
Concern Logan is an energy-efficient development with 66 permanent, supportive housing units that will serve 103 individuals. The unit mix includes affordability at 30% AMI and 60% AMI and provides high-quality supportive services, including rehabilitation counselling, restorative services, crisis intervention, parent skills training, and more.
Loan Purpose: Acquisition and predevelopment
Project: Affordable, supportive housing
Concern Logan focuses on supporting homeless adults and veterans, including those with psychiatric disabilities. The loan provides preliminary funding to support a planned low-income housing tax credit (LIHTC) development of affordable housing for families.
Borrower: Concern for Independent Living, Inc. (Concern) founded and controls Concern Logan Housing Development Fund Corporation, a single-asset entity. A group of parents and friends of persons with psychiatric disabilities founded Concern. As a highly regarded supportive housing developer, its mission is to provide housing and supportive services that enrich lives and strengthen communities. Concern develops high-quality, attractive housing that provides tenants with services to help them thrive in the communities of their choice.
Loan Details: Working with Leviticus Fund, Partners provides a $1,100,000 pari passu participation in a $4,600,000 acquisition and predevelopment loan.