Closed: December 30, 2016
Millennia Housing Development is pleased to announce the portfolio acquisition of six New York affordable housing communities located in Utica, Whitesboro, and New Hartford. This acquisition expands Millennia’s presence in New York with the addition of 421 apartment homes. Millennia Housing Development is proud to have been awarded the opportunity to purchase this legacy portfolio from a long time local family that chose to entrust the Millennia Companies with its future care and preservation. Future plans include a substantial rehabilitation of all properties through the Low-Income Housing Tax Credit program, which will ensure the properties remain communities that anyone would proudly call home.
Millennia Housing Development partnered with Pillar Financial and Freddie Mac in order to finance this exciting acquisition.