Affordable Housing for Artists to be Built in Wilmington, Delaware
Common areas will include four art studio spaces which can be reserved by the tenants, a computer lab for written word artists, a fitness/multipurpose room for dance artists and four music rooms for musical artists.
WOODLAND HILLS, Calif., Aug. 3, 2020 /PRNewswire/ -- Alliant Capital has closed on Quaker Arts, the preservation and conversion of three existing apartments buildings and two commercial buildings in Wilmington, New Castle County, Delaware. The project will feature 53 family units for tenants whose income is between 30 and 80% of the Area Median Income ("AMI"), and will have a preference for those involved in the arts.
23 of the units will include creative studio space. Common areas will include four art studio spaces which can be reserved by the tenants, a computer lab for written word artists, a fitness/multipurpose room for dance artists and four music rooms for musical artists. In addition, there will be a community garden, and a community room with a meeting/study room, art vaults, a kitchenette, and office space.
Alliant Capital will partner with Connections CSP, one of Delaware's largest nonprofits. Collaborating with government, community, corporate, and other philanthropic partners to maximize services for the state's most vulnerable citizens, CSP operates in 100 separate locations in Delaware. Their team is made up of more than 1,700 full-time employees with the mission to provide a comprehensive array of healthcare, housing, and employment opportunities to individuals and families. This is Alliant's first transaction with Connections CSP.
Construction completion is expected in October 2021.
About Alliant Capital
The Alliant Company is a leading tax credit (LIHTC) firm focused on providing tax credit syndication for the development and financing of affordable multifamily rental housing. Founded in 1997 to assist in America's critical need for affordable housing, today Alliant is among the nation's top syndicators and has an unparalleled track record of success. With a dedicated team of experienced commercial real estate, asset management, legal and tax professionals, Alliant provides the highest level of fully integrated real estate and investment support services. We deliver rock-solid expertise with an innovative perspective.
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SOURCE Alliant Capital, Ltd.
