Emri Apartments

About the project

VCU Homes, LLC (originally James River Housing Partners) was founded by Ali Semir in 2017 and develops and owns naturally occurring affordable housing (NOAH) and workforce multifamily properties in Washington, DC, Virginia and Georgia. Projects include a Washington, DC townhouse conversion to a 5-unit condominium building and an 88-unit NOAH property in Staunton, VA, about 150 miles southwest of Washington, DC.

Vantage Realty Capital is headed by Robert McCray and is a diversified, value-add developer, investor and operator focused primarily on the multifamily sector.

The sponsors operate in the DC metro area.

LISC provided a $6.20 million loan to support the acquisition of two naturally occurring affordable housing buildings in the Glover Park neighborhood of Washington, DC. Affordable housing is extremely scarce in this neighborhood and the sponsors intend to improve and maintain the buildings for existing tenants. Together the buildings have 65 units affordable to households making 60% to 80% of AMI. LISC partnered with Capital Impact Partners, the lead lender, on this project.

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More LISC Lending's Project Profiles

See more resources from

Twin Cities

visit the local office's website

Partner:

SCI Associates, LLC

Location:

Dubuque, IA

Total Investment:

$1.5 million

Results: