We congratulate our client, First Shiloh Baptist Church, on the successful closing of $73 million dollars in financing for the renovation of the 281-unit Ellicott Town Center affordable housing development.
Kavinoky Cook represented the First Shiloh housing development companies in this project, continuing a relationship beginning with the inception of the redevelopment of the then long-vacant Ellicott Mall public housing project in 1991. At that time four of the original 1950’s towers were demolished, four towers substantially renovated as affordable family housing, and 25 units of low rise senior housing townhomes were constructed between 1193 and 1998. At the time First Shiloh partnered with Norstar Development. The current project is being jointly developed with Beacon Communities of Boston Massachusetts.
This new financing will enable every apartment to be renovated, including new kitchens and bathrooms and to be maintained as affordable housing for the next 30 years.
Kavinoky Cook has represented several governmental, non-profit and for-profit developers of affordable housing in Buffalo and Niagara Falls in over $1 billion in developments. We have a broad range of experience in these matters, including major HUD grant programs (including the first Rental Assistance Demonstration Program financing in Buffalo) , the first issuance of tax-exempt bond financing by the Buffalo Municipal Housing Authority, as well as State financing.
These projects involve our attorneys with significant experience in real estate, corporations, municipal law and not-for-profit law. For more information contact Laurence Rubin at 716 867 1321 Lrubin@kavinokycook.com