The Retreat at Mineral Springs – Martinsville, Indiana

The Retreat at Mineral Springs – Martinsville, Indiana

Closed – December 2016

Kuhl & Grant LLP served as counsel to the developers and the owner in connection with the acquisition, rehabilitation and new construction of The Retreat at Mineral Springs, a 38-unit affordable rental housing project in Martinsville, Indiana.  Project financing included equity from the syndication of 9% Low-Income Housing Tax Credits and Federal Historic Rehabilitation Tax Credits (R4 Capital), conventional construction financing (First Merchants Bank) and subordinate financing (Indiana Housing and Community Development Authority).  The project is being co-developed by Flaherty & Collins Development, LLC and Community Service Center of Morgan County, Inc. d/b/a Wellspring.