R&C Closes its Seventh RAD Transaction

On April 11th, R&C closed its seventh Rental Assistance Demonstration (RAD) transaction: Liberty Gardens Phase 3 for the Rome Housing Authority. This 52-unit development involves both rehabilitation and new construction, with a budget of approximately $14 million. Financing sources include RAD project-based vouchers, federal and state low-income housing tax credit (LIHTC) equity, modernization funds from the New York State Homes and Community Renewal, and a construction loan from M&T Bank.