LIIF has closed on an $8.14 million construction loan to ParcView at Miramar, a new affordable townhome development from Florida Development Corporation that will eventually feature 62 affordable townhomes.
The initial, LIIF-financed stage will consist of 26 townhomes to be sold exclusively to first-time homebuyers earning up to 120% of the area median income (AMI) of this South Florida region. Moreover, thanks to $16 million invested from local governments and private foundations, homebuyers of these affordable townhomes will be eligible to receive up to $240,000 in down payment assistance.
Homebuyers (…) will be eligible to receive up to $240,000 in down payment assistance.