Elizabeth Square is 75 units of senior housing located at 430 Fulton Street in the City of Waverly. This preservation project was funded through the HFA tax exempt bond program with 4% Low Income Housing Tax Credits, HFA Subsidy Loan and Community Investment Fund Loan.
The existing M2M Debt was partial paid down and the remainder assumed, the existing project reserves, and income from operations are other sources. The substantial rehabilitation includes masonry repointing, new windows, doors, and roof. All Apartments are receiving new ENERGY STAR appliances, flooring, kitchens and baths.
The rehabilitation at Elizabeth Square started in November 2016 and will be completed in November 2017.