Cabretta Capital Provides Equity Investment for Low Income Senior Housing Development in Winder
Monday, November 16th, 2020
Cabretta Capital, a tax credit syndication firm with expertise in structured tax credit equity funds, is pleased to announce their partnership with KCG Development, a real estate development company focused on producing a range of vibrant planned communities, to provide a portion of the financial services and low-income housing tax credit equity (LIHTC) for Wimberly Manor, a 73-unit apartment complex restricted for use by low income senior residents in Winder, Ga.
Located at 165 E. Wright St., Wimberly Manor will be a welcome addition to the surrounding area which has experienced strong economic and employment growth throughout the past 10 years. “Strategically located next to Wimberly Center for Community Development and only minutes from downtown Winder, Wimberly Manor is ideally positioned to better connect senior residents with the resources they need to live healthier, happier, and more fulfilling lives,” said Brent Watts, president of Cabretta Capital.
KCG Development is working in partnership with the Winder Housing Authority to develop the age-restricted residential community which will include a large, two-story building to house the majority of the residential units as well as a smaller, single-story quad of cottages for residents. The overall flow of the senior community will be pedestrian-friendly with easy access to onsite amenities for all residents. Planned amenities include a community center, garden, on-call resident transportation service, wellness studio, craft rooms, central laundry facility, and award-winning social and wellness programs onsite. The total project cost is $14.7 million.