DOF Provides $4,000,000 in Project Capital to National Developer of Special Needs Housing

Based in Milwaukee, WI, Cardinal Capital Management (CCM) has a national reputation in acquiring, developing, financing, and managing special needs multifamily housing.  It provides development, construction, property management, and real estate asset management.  Many of the properties it develops are structured using Low Income Housing Tax Credits (LIHTC).  The properties in its portfolio include supportive housing for veterans and for persons recovering from mental illness, persons with hearing or vision loss, and homeless people.  By providing flexible capital to CCM, DOF anticipates the following social impact over the next five years:

  1. Very Low-Income Households (<50% AMI) Benefited by this Loan: ~100 units
  2. Low Income Households (50 -80% AMI) Benefited by this Loan:~100 units
  3. Moderate Income Households (>80 – 120% AMI) Benefited by this Loan: ~100 units
  4. Number of Serve People of Color Benefited by this Loan: ~200 units
  5. Number of Women/Girls Benefited by this Loan:  Likely half the units
  6. Number of Children and Youth Benefited by this Loan: ~50 units, aged out of foster care
  7. Will this Loan be in a Rural Place? Some of the units, roughly half
  8. Number of Veterans Benefited by this Loan: ~200 units
  9. Number of People with Disabilities Benefited by this Loan: ~250 units
  10. Number of Affordable Housing Units Created by Loan: ~200 units
  11. Number of Jobs Created by this Loan  at Loan Closing: ~100
  12. Square Feet of Health Care Facilities Created through this Loan: 40,000