mountain view heights

This project is 365 units of low rent public housing with a senior tower and two-family sites that are being transformed through RAD. The projects three scattered sites are within less than a mile and a half of each other in the City of Hot Springs. The two family sites consist of 245 units and include a combination of one, two, three, and four bedroom units. The senior tower is made up of 120 units within one high rise structure that is 11 stories. This project will leverage 4% tax credits, tax-exempt bonds, HOME funds, and a PHA provided seller take-back note. The project leverages Freddie Mac
debt. The project provided over $64,000 in construction funding per unit. There are extensive relocation plans associated with the project and multiple financing layers. The total sources and costs for the project are $57 Million.

Amenities & Upgrades:

• Flooring
• Interior paint/exterior paint
• Lighting
• Sprinkler system
• Extensive plumbing rework
• Electrical
• Elevators
• Parking/sidewalks
• Common area
• Bathroom/Kitchen remodel
• New energy efficient air system
• New roof
• New laundry facility