Winhaven Grand Reopening
Congratulations are in order, as Security Properties is celebrating the Grand Reopening of Winhaven Court, in Winona, Minnesota! Winhaven Court provides 118 homes affordable to seniors and disabled individuals who will pay no more than 30% of their income on rent. The 10-month rehabilitation has preserved affordable homes in the heart of downtown Winona and will qualify the property as a Minnesota Green Property.
Minnesota Housing Finance Agency supported this project with $7 million of construction financing via tax exempt bonds. Permanent financing was provided by a $6.5 million Section 223f loan from Pillar Finance and $2.28 million loan from MHFA Preservation Affordable Rental Investment Fund. Enterprise provided $3.97 million of equity.