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Homeownership Developments Homeownership is increasingly within the reach of many Americans, thanks in part of the efforts of the firm’s clients. Some representative examples of the firm’s work are: | | | Washington, DC Townhomes of Capitol Hill The Townhomes of Capitol Hill is a limited equity cooperative in a historic district that provides quality housing to 134 families with very low- to moderate-incomes, as well as 13 units to market-rate purchasers. Reno & Cavanaugh devised a complex lease structure that enables community oversight of the properties and created a unique cooperative structure to accommodate the diverse interests of the community. | |
|  | Wellington Ridge Chester, PA This on-site homeownership transaction consists of 26 for-sale units sold to buyers earning under 80% of median income. The Chester Housing Authority provided $3,424,552 in HOPE VI funds, and Sovereign Bank provided a revolving loan fund of up to $2,295,400. | |
| | | Park DuValle Louisville, KY Reno & Cavanaugh assisted the Authority and the Louisville Real Estate Development (LREDC), a subsidiary of the Louisville Community Development Bank, to design a homeownership program that leveraged the Authority's investment in the site. Our firm drafted the relationship documents between the Authority and LREDC and worked with both agencies to structure a soft mortgage program under the HOPE VI Program. Louisville was the first agency to complete a transaction where the Authority only provided secondary purchase financing rather than construction financing. Firm attorneys worked on the entire Park DuValle revitalization, which has been the subject of numerous design, planning and finance awards. | | | | | | | | | | | |
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2008 © Reno & Cavanaugh PLLC | Disclaimer & Privacy Policy | Last Updated: 08.28.08
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