Monarch Private Capital (MPC), a nationally recognized tax-advantaged investment firm that develops, finances, and manages a diversified portfolio of projects that generate federal and state tax credits, including ESG investment opportunities that provide a quantifiable impact, is pleased to announce the financial closing of low-income housing tax credit equity (LIHTC) for six multi-family developments, totaling nearly 100-million dollars in development costs. These developments are located throughout Georgia in the following cities:
- Athens Gardens in Athens, GA will provide 100 affordable housing units
- Calhoun Gardens in Calhoun, GA will provide 76 affordable housing units
- Cartersville Gardens in Cartersville, GA will provide 100 affordable housing units
- Catoosa Gardens in Ft. Oglethorpe, GA will provide 101 affordable housing units
- Clarke Gardens in Athens, GA will provide 100 affordable housing units
- Forsyth Gardens in Forsyth, GA will provide 78 affordable housing units
All five cities, where the developments are located, are experiencing a steady annual growth rate in household incomes. MPC has partnered with Preservation Partners to develop these projects.
“At Preservation Partners Development, we strive to provide quality services through safe and sanitary housing,” Chuck Treatch, CEO at Preservation Partners Development. “These developments will offer tenants secure and supportive environments in which they can thrive both socially and financially.”
Set to be placed in service in the first quarter of 2021, these projects together will generate hundreds of direct construction jobs and employ over a thousand individuals indirectly.
“These six developments will help to revitalize communities and bring about new opportunities for those struggling to afford quality homes,” said Brent Barringer, Managing Director of LIHTC for MPC. “We commend Preservation Partners for partnering with MPC to help develop exceptional affordable housing throughout Georgia.”
About Monarch Private Capital
Monarch Private Capital positively impacts communities by investing in tax credit supported industries. The company is a nationally recognized tax equity investor providing innovative capital solutions for affordable housing, historic rehabilitations, renewable energy, film, and other qualified projects. Monarch has long term relationships with institutional and individual investors, developers, and lenders that participate in these types of federal and state programs. Investors look to Monarch to create, operate, and manage a variety of different funds, including investment opportunities that address ESG initiatives that provide a quantifiable impact. Headquartered in Atlanta, Monarch has offices and tax credit professionals located throughout the U.S.