In March 2019, CDT funded a $7.9 million tax-exempt permanent loan to Abbey Church Village Apartments, a renovated 160-unit family community located in Dublin, Ohio. Abbey Church includes 22 two-story residential buildings and a completely redeveloped community building used to support the project’s expanded on-site service programs.
Originally developed in 1996 by National Church Residence (NCR), Abbey Church was renovated by NCR over a two-year period starting in 2016. NCR is a nationally recognized nonprofit developer and manager of affordable housing and a repeat CDT borrower. In addition to CDT’s mortgage, the property was financed with LIHTC rehab credits syndicated by the National Affordable Housing Trust and subordinate financing provided by NCR.
Abbey Church is CDT’s largest project participating in the Strong Families Fund (SFF), a national fund sponsored by The Kresge Foundation and Robert Wood Johnson Foundation to support expanded social services in housing communities servicing low- and moderate-income families. Services within the SFF program include health and wellness (prevention, access to primary care), youth and education, housing stability, community safety and employment/asset building.