Atlanta, May 21, 2020 (GLOBE NEWSWIRE) -- Monarch Private Capital (MPC), a nationally recognized tax-advantaged investment firm that develops, finances, and manages a diversified portfolio of projects that generate federal and state tax credits, including ESG investment opportunities that provide a quantifiable impact, is pleased to announce the financial closing of low-income housing tax credit equity (LIHTC) for a 3.8-million-dollar multi-family development called Americus Gardens located in Americus, Georgia.
Americus Gardens is conveniently located off US-19 at 730 S Martin Luther King Boulevard in the commercial part of town in Sumpter county. Residents will have quick and easy access to essentials like restaurants, grocery stores, and automotive care. The development contains 44 low-income housing units with one one-story apartment building, five two-story apartment buildings, and a one-story accessory building with brick exteriors. MPC partnered with Gateway Development Corporation to complete the project, which will be placed in service this year.
Along with this major capital investment in Americus, the LIHTC project is estimated to drive approximately 50 direct construction jobs. Not only does this boost the community’s local income and local tax revenues, but it helps advance an area that may have otherwise been neglected.
“Americus Gardens will have a very positive effect on the community,” said Brent Barringer, Managing Director of LIHTC for MPC. “Providing quality homes in a central location will give residents access to better jobs and help them cut down on the costs of transportation. We appreciate the leadership of Gateway Development Corporation to bring this project to fruition and couldn’t be more pleased with the outcome of our investment.”
“Our mission at Gateway is to provide a gateway to affordable housing for working Americans,” said Jason Freeman, President at Gateway Development Corporation. “Having a safe, clean and quality environment is imperative to healthy development, and we are committed to providing these crucial homes to communities like Americus, Georgia.”
For more information on MPC’s programs and services, please contact Brent Barringer by emailing bbarringer@monarchprivate.com.
About Monarch Private Capital
Monarch Private Capital positively impacts communities by investing in tax credit supported industries. The company is a nationally recognized tax equity investor providing innovative capital solutions for affordable housing, historic rehabilitations, renewable energy, film, and other qualified projects. Monarch has long term relationships with institutional and individual investors, developers, and lenders that participate in these types of federal and state programs. Investors look to Monarch to create, operate, and manage a variety of different funds, including investment opportunities that address ESG initiatives that provide a quantifiable impact. Headquartered in Atlanta, Monarch has offices and tax credit professionals located throughout the U.S.