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
Headquartered in New York City with offices in Washington, DC, and Chicago, IL, The NHP Foundation was launched on January 30, 1989, as a publicly supported 501(c)(3) not-for-profit real estate corporation. NHPF is dedicated to preserving and creating sustainable, service-enriched multifamily housing that is both affordable to low and moderate income families and seniors, and beneficial to their communities. NHPF also provides a robust resident services program to more than 28,000 community residents. Through partnerships with major financial institutions, the public sector, faith-based initiatives, and other not-for-profit organizations, NHPF has preserved 82 properties, totaling 14,379 units in 19 states and the District of Columbia. Today, NHPF’s portfolio includes 41 properties, totaling 6,921 apartment units, in 16 states and the District of Columbia.