The NRP Group celebrated a grand opening and ribbon-cutting for its latest addition to the NRP Group’s portfolio of affordable multifamily housing, the Winslow Pointe community, in Greenville, North Carolina.
On March 20, NRP co-founder and principal, Alan F. Scott, hosted Mayor Allen Thomas and Mayor Pro-Tem Rose Glover and other guests from Greenville to announce the completion and lease-up of the Winslow Pointe community, serving 84 families with one-, two- and three-bedroom apartments, representing a $10.9 million investment in safe, affordable housing and fully-equipped kitchens with Energy Star appliances, and a community clubhouse with a community room, Internet access, fitness center and playground facilities.
The Winslow Pointe community is the NRP Group’s latest North Carolina affordable housing community, financed in part with Federal and State affordable housing tax credits and permanent loan financing. The Ellinger Carr law firm served as counsel to the construction lender, Bank of America, for the initial construction phase of the project.
NRP Group has built more than 18,000 housing units since its founding in 1995, and it manages 96 communities encompassing more than 10,000 market rate and tax credit family and senior apartment properties in North Carolina, Ohio, Michigan, Virginia, Texas, Indiana, New Mexico, Florida and Arizona. It soon will begin construction on its latest North Carolina tax credit property in north Raleigh, North Carolina.
Ellinger Carr is a business law and commercial real estate law firm based in Raleigh, North Carolina. Ellinger Carr lawyers are experienced and knowledgeable counselors, transaction specialists and business problem solvers, admitted to practice in North Carolina, South Carolina, Florida, Louisiana and New York.
Among more recent transactions, on April 18, 2013 Ellinger Carr, serving as counsel to the construction lender, Bank of America, concluded a $21.9 million construction and equity financing closing for rehabilitation and new construction of a 95-unit affordable housing property in New Port Richey, Florida.
For assistance in commercial real estate and corporate and business development matters, call 919-785-9998 or email Susan Ellinger at sellinger@ellingercarr.com or Steven Carr at scarr@ellingercarr.com.
