A new, multifamily affordable housing community providing homes and serving 80 families and individuals in the Wakefield community of Raleigh celebrated its grand opening on July 27.
The developers, the Taft-Mills Group, hosted a ribbon cutting and grand opening event to thank their investors and lenders in the endeavor. CAHEC is the equity investor, and the purchaser of tax credits for the project allocated by the North Carolina Housing Finance Agency (NCHFA) in 2015. First Citizens Bank was the construction lender and Centrant and the City of Raleigh provide permanent loan financing for these affordable housing units.
Dustin Mills, President of Taft-Mills Group, hosted the event with his partner, former State Senator Tom Taft. Chris C. Parrish, a member of the NCHFA Board of Directors, and Raleigh City Councilwoman Nicole Stewart, also spoke and helped to cut the ribbon.
Sarah Goodin and other Ellinger Carr lawyers served as the developer’s legal counsel in support of the Taft-Mills Group for this development project, including the equity and debt financing and other development activities and legal matters affecting the project.
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, Virginia and New York.
For assistance in commercial real estate and corporate and business development matters, call 919-785-9998 or email Susan Ellinger at sellinger@ellingercarr.com, Steven Carr at scarr@ellingercarr.com, Heather McDowell at hmcdowell@ellingercarr.com, and Sarah Goodin at sgoodin@ellingercarr.com.
