November 10, 2016- NDC Corporate Equity Fund XIII announced a LIHTC closing for the $20 million acquisition and rehabilitation of 262 units of rental housing for seniors and families. HKBBE Apartments was completed in partnership with Neighbors of Watertown.
The project consists of five separate historical buildings, four of which currently offer affordable housing units, and one that is vacant and abandoned. The vacant building will feature a mix of affordable and market rate units as well as commercial space. After construction concludes, the combined buildings will contain 262 total apartments (15 newly constructed and 247 renovated), including 12 studio units, 244 one-bedroom units, and 6 two-bedroom units.
NDC looks forward to working with the Neighbors of Watertown to complete the rehabilitation of these buildings, which will become a major housing asset to the City of Watertown. Current and future residents are looking forward to improved and expanded community spaces.