Churchill Stateside Group, LLC (CSG) announced the closing of two new construction loans on two communities set to deliver 278 affordable housing units to Wilmington, NC. Churchill Mortgage Construction (CMC) LLC, an affiliate of CSG, is sourcing a $23.5M construction loan for Starway Village I, which will provide 176 units in addition to a $13.6M construction loan for Starway Village II, which will provide 102 units. These tax-exempt construction loans are provided by CMC with subordinate financing along with four percent LIHTC.
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