Erie Point

Overview

Deal Type Low Income Housing Tax Credits
Equity Capital Markets
Construction
Size $10,400,000 Debt $8.27 Million Equity
Rehab/Construction
Client & Transactional Partners Erie Point
The Community Builders, Inc.

Summary

 

Erie Point will be a redevelopment of eight sites to construct nine buildings with forty units of housing. The development will also include two playgrounds and a parking lot with 57 tenant parking spaces. Of the eight one-bedroom, six two-bedroom, and 26 three-bedroom units, 20 will be supported by an Empire State Supportive Housing Initiative award to provide supportive housing for survivors of domestic violence in households up to 50% of area median income (AMI). Eight units will serve households up to 30% AMI with a 20-year Project Based Section 8 contract, while the remaining 12 units will target households up to 60% AMI.

In addition to the equity investment by KCDC, Community Preservation Corporation is providing a permanent loan of $2.36 million and the project is receiving $2.9 million from a State of New York home loan, $900,000 from the Federal Housing Trust Fund, and sponsor capital of $476,000.

 

Recent Deals

July 2025

a portfolio company of 

and

$1.815 Billion

Senior Secured Credit Facilities

$900 Million

8.50% First Lien Secured Notes due 2032

Joint Lead Arranger
Joint Bookrunner

radiology-partners
June 2025

 

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Sell-Side Advisor

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