ST. LOUIS--(BUSINESS WIRE)--Advantage Capital, a leading impact investment firm that invests with intention in underserved areas and expands access to affordable housing opportunities across the country, today announced the financial closing of The Oak Park Townhomes. The new construction in Kansas City, Mo. will offer affordable units to households at 40-, 50- and 60-percent of the area median income.
The financing was made in connection with the Federal and Missouri Low Income Housing Tax Credit (LIHTC) programs, which provide credits to incentivize investment and accelerate affordable housing development.
“We are proud to participate in these important programs and be part of the housing solution in Kansas City,” said Michael Dubansky, Vice President, Advantage Capital. “Through our participation, we have been able to support thousands of affordable units for families across Missouri. And Oak Park Townhomes is a fantastic example of what we can achieve through the program—bringing quality housing with critical services to families in need.”
Once complete, Oak Park Townhomes will have a part-time service coordinator from Phoenix Family, a Kansas City-based nonprofit that empowers people living in low-income housing communities with the on-site support they need to gain stability and achieve self-sufficiency. Additionally, The Salvation Army of Kansas and Western Missouri will provide Veteran services, and First Call will provide substance abuse recovery, counseling and education.
Advantage Capital participates in state and federal tax credit programs to help finance housing developments and increase access to safe, high-quality, and affordable homes for low-income families, veterans, public service workers and other vulnerable populations in America.
About Advantage Capital
Advantage Capital is a leading impact investment firm with an emphasis on driving capital to underserved areas. The firm provides flexible financing to growth-ready entrepreneurs and industries located in communities that often lack access to conventional sources of capital. Since 1992, the firm has invested more than $4 billion in more than 900 companies to support more than 70,000 quality jobs. The firm also invests with intention in affordable housing developments and renewable energy solutions to grow economies and communities. Learn more at Advantagecap.com.
Advantage Capital is an Investment Adviser registered with the U.S. Securities & Exchange Commission. Such registration, however, does not imply a certain level of skill or training. This release has been prepared for informational purposes and to announce a prior event, and nothing herein should be construed as an offer of investment advisory services or as an offer to sell or a solicitation of an offer to purchase any securities or investment product. All offers of investment interests in any fund or investment vehicle managed directly or indirectly by Advantage Capital are and will be made only to qualified prospective investors pursuant to separate and definitive offering and subscription documents in accordance with applicable federal and state securities laws. Advantage Capital is an equal opportunity provider.
