SLEFI Approves Two New Investments

The SLEFI Investment Committee approved two investments at the April 17th meeting – the Colonnades at Beacon Hill and House Springs/Hillsboro Elderly Apartments. The Colonnades at Beacon Hill is located in Kansas City, MO, and consists of 26 LIHTC units and four market rate units. We anticipate the project closing to take place in July and construction to begin shortly thereafter. This investment represents the first partnership between Sparrow Community Development Corporation and the Equity Fund.

House Springs/Hillsboro Elderly Apartments consists of the rehabilitation of two separate properties in Jefferson County, one located in House Springs and the other in Hillsboro. When completed, there will be a total of 72 one-bedroom units restricted to senior households age 62 and older. We anticipate the project to close in late June. This investment represents the first partnership between Renaissance Property Group, led by Mr. David Miller, and the Equity Fund.