Cabretta Capital is pleased to announce the successful closing of an impactful development dedicated to erecting an affordable multi-family housing complex in the heart of Downtown Savannah, GA. This exciting project, located at 1700 Drayton St., is being brought to life by Danny Pinyan of Savannah and Procida Development Group of New York and will benefit from Federal LIHTC equity through NEF, State LIHTC equity from Cabretta Capital, construction debt financing provided by Renasant Bank, permanent debt from Cedar Rapids Bank, the Savannah Affordable Housing Fund / CSHA, and a DCA HOME Loan.  Local resident and affordable housing champion Anita Smith Dixon of CHSA played a critical role in making this challenging development happen. We anticipate delivery in the second quarter of 2028.

Located at 1700 Drayton Street, Savannah, GA 31401, this initiative will provide 41 affordable apartments, significantly improving access to quality housing for income-qualified families and individuals, including those experiencing homelessness or at risk of it. Notably, 21 of these units will be complemented by Project-Based Rental Vouchers, ensuring even more families can find a safe and stable place to call home.

"This project is incredibly important for Cabretta, especially as it is being developed just around the corner from our headquarters," states Brent Watts, President of Cabretta. "We deeply understand the pressing needs of our city’s low-income and underhoused populations, and we genuinely believe that 1700 Drayton will create meaningful change for those who need the support the most."

About Cabretta Capital

Cabretta Capital, based in Savannah, Georgia, is a leading specialty finance firm with a focus on structured tax credit equity, with a strong commitment to enhancing communities through affordable housing and historic rehabilitation projects. Since its formation in January 2015, the company has successfully syndicated over $850 million in tax credits, unlocking crucial funding for impactful initiatives. With nationwide opportunities available, Cabretta Capital is dedicated to making a difference. To learn more, visit To learn more, visit www.CabrettaCapital.com.