Hunt Capital Partners, in collaboration with Severn Development Company, LLC, announced the closing of $4.35 million in Federal LIHTC equity financing for the acquisition and rehabilitation of Frazier Apartments in Smyrna, DE. The investment will allow for the development’s first rehabilitation since its original construction three decades ago. The project involves combining two existing age-restricted United States Department of Agriculture Section 515 Rural Developments, known as Frazier Place I and Frazier Place II, into one partnership. The project itself is comprised of nine single-story residential buildings along with two single-story community buildings. Upon completion of rehabilitation in January 2024, Frazier Apartments will introduce 54 fully renewed, affordable housing options to seniors (62+) earning between 40 and 60 percent of the area median income.