Golda Meir House, Newton MA
Jewish Community Housing for the Elderly
Klein Hornig represented Jewish Community Housing for the Elderly (JCHE) in the recapitalization and rehabilitation of Golda Meir House, a 199 unit senior housing project in Newton, MA. The transaction, which was financed with tax exempt bonds and LIHTC equity, funded rehabilitation of over $150,000 per unit. In addition to closing the financing, we secured HUD approvals for the prepayment of the project’s existing Section 202 Direct Loan; the subordination of the project’s existing Section 202 Capital Advance to new debt; a “mark-up-to-market” renewal of the project’s HAP contract; and a “pass-through” of the project’s Section 8 rental subsidy.