THE GREEN HOUSE(R) Residences at Stadium Place are coming to Baltimore. We are planning to start construction in December. It's been a long year, with many moving parts. We have completed construction planning, negotiated a lease with an operating partner, and finally put into place a financing package. We tried New Markets Tax Credits, but that didn't work out. NCB Capital Impact has come to our rescue with a long term loan, as well as bridge financing. The Loan Commitment Letters were signed yesterday! After receiving 5 qualified bids, a construction contract has been signed with Plano-Coudon, LLC. And our operating partner will be Associated Catholic Charities, which is already providing enhanced living, dignity and person-centered care for frail elders. Welcome home!
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