MINNEAPOLIS, June 27, 2018 /PRNewswire/ -- WNC, a national investor in real estate and community development initiatives, announced today the opening of Bright Sky Apartments, a new 43-unit affordable housing community in Moorhead, Minnesota. WNC provided approximately $2.5 million in low-income housing tax credit (LIHTC) equity to help fund the project.
"Bright Sky Apartments focuses on providing quality, safe living to individuals and families in need within the Moorhead area," said WNC Chief Operating Officer Michael Gaber. "The community was built specifically to alleviate local homelessness. We are pleased to have partnered with Beyond Shelter Inc. and Churches United to help deliver this new community."
Located at 3305 3rd Ave. N., Bright Sky Apartments is a three-story building comprised of 18 studio units, four one-bedroom units, nine two-bedroom units, nine three-bedroom units and three four-bedroom units.
Churches United for the Homeless, which focuses on providing shelter and support in a spiritual setting, will manage the community. Lisa Rotvold of Beyond Shelter, Inc. served as the project developer. Construction took approximately one year to complete.
WNC, founded in 1971 and headquartered in Irvine, Calif., is a national investor in real estate and community development initiatives, as well as a leading investor in low-income housing tax credits (LIHTC). WNC has acquired more than $8.8 billion of assets totaling in excess of 1,350 properties in 47 states, Washington D.C., and the U.S. Virgin Islands. WNC's investor base exceeds 19,500 institutional and retail clients, including Fortune 500 companies, multinational banks, and insurance companies. Additional information is available at www.wncinc.com.
Spotlight Marketing Communications
949.427.5172 ext. 703