POAH stepped in to preserve this property's federal affordable housing subsidies.
After acquiring the property in December of 2008, POAH began to address its significant challenges, working collaboratively with a broad range of stakeholders to develop a comprehensive plan that would affect the broader Woodlawn neighborhood.
POAH remains committed to ensuring that the transformation of Woodlawn Center South is fully connected to broader community renewal.
Matanky is committed to work alongside POAH and community organizations to expand commerce in the neighborhood.
This investment is a continuation of Prudential's social investment mission to provide flexible financing to organizations like POAH.
Often the threat of losing affordability covenants arises after it's too late," said Amy Anthony, president of POAH.
About the transaction: POAH is purchasing the property to ensure the property will be preserved as affordable housing when its mortgage matures in 2016.