ACQUISITION / PRESERVATION / REDEVELOPMENT

Countryside Apartments (I & II)

Countryside Apartments, constructed in two phases from 1982–1983, is situated in a rural setting near the Scoville Reservoir in Wolcott, CT. The 109 units contained in 16 garden-style buildings are primarily one-bedroom apartments. Countrywide is a service-enriched senior property. A separate building houses the management and maintenance functions as ell as a community room. Community amenities in that building include a wellness center, a computer area, a lunch program for residents, a n on-site resident services coordinator, and ongoing educational programming for all residents.


TOTAL COST
$ 11,328,000

DESCRIPTION
Countryside is comprised of 106 one-bedroom units and three two-bedroom units. 100% of households receive rental subsidy through a project based Housing Assistance Payment contract with HUD.

FINANCING
The purchase price for Countryside Apartments (I & II) was $10,750,000.
$ 7,768,000PNC Bank
$ 3,560,000 National Housing Preservation Fund




FOLLOW OUR COMMUNITY BUILDING

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NHPF’s diverse income and rent structure provides housing for a range of households from low to moderate income. Notwithstanding income levels, the same level of amenities and access to our services is offered to all residents.

This property is just one example of how NHPF’s commitment to affordable housing has helped American families.

ABOUT THE NHP FOUNDATION
Founded in 1989, The NHP Foundation strives to provide quality affordable multi-family housing and resident services for low to moderate income families. Since 1994, NHPF has acquired and preserved 78 properties, totaling 13,616 units, located in 19 states and the District of Columbia. Today, NHPF’s portfolio includes 47 properties, totaling 8,063 apartment units, in 15 states and the District of Columbia. NHPF also provides service programs to approximately 20,000 community residents.