Normandy Apartments
Normandy Apartments was originally built in 1972 under the HUD 236 Financing Program. The property is comprised of 96 one bedroom units serving elderly and disabled residents. 78 of the units are covered by a project-based Section 8 HAP contract. Evergreen acquired the property in December 2014 utilizing new HUD 223(f) first mortgage financing and will continue to operate the property as income restricted housing. The property is managed by Evergreen’s affiliate management company, Preservation Management, Inc.
Normandy Apartments
24320 Michigan Avenue
Dearborn, MI 48124
Phone: (313) 526-4024
PRESERVATION TRANSACTION DESCRIPTION
First Mortgage Financing: New HUD 223(f) debt financing was provided to the project by Red Mortgage Capital LLC
Section 8 Contract Renewal: Yes
DEVELOPMENT PARTNERS
Local HUD Office
HUD Detroit
HUD Lender/First Mortgage Lender
Red Mortgage Capital LLC
Legal Counsel
Thompson Coburn LLP
