Anchor Point is a currently under, phased 77 unit development of affordable two and three-bedroom rental apartments for families, sponsored by Harborlight Community Partners (HCP). HCP owns the 5.07 acre site. Anchor Point II is the second phase and will create 39 affordable units. Anchor Point Phase 2 will provide high quality housing for families earning at or below 60% of the area median income (AMI), which in 2021 is $72,500 for a family of four. In addition, 20% of the units (8 apartments) will be set aside for families coming out of homelessness.
Project in progress
05-25-2022
Project Category
Project Details
Housing Units
39
0
39
Acres
0
0
0
0
0
0
CPA Funding
$0
$400,000
$0
$0
$0
$400,000
$0
0
$0
Other Funding Sources Leveraged
$0
$0
$0
$0
$22,835,934
Tax Credit Equity $10,078,734 Seller note $377,200 DHCD HOME $825,000 Other Local Funds $580,000 Other State Funds $4,500,000 Permanent Loan $6,275,000 Deferred Fee $200,000
Total Project Cost
$23,235,934
$22,835,934
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