Location: Yonkers, NY

Project Overview: 317 Units

Financing Type: 4% LIHTC Tax Exempt Bonds

Investor: Boston Financial and Citibank

Year of Aquisition: 2011

Deal Type: Section 8/236

Description: Located in Yonkers, NY, Crowell Towers is a Project Based Section 8 family apartment complex that is 100% affordable.  Acquired in 2011, in a joint-venture between Silver Street Development, Metropolitan Realty Group, and Low Income Housing Corp., the property then underwent a $32,000,000 rehabilitation of its 317 units and parking structure. Preservation of this asset was accomplished through a tax exempt bond issue from the Yonkers IDA, Citibank and Boston Financial.  The property is 100% occupied.