Citizens Financial : Bank Provides $6.15 Million Construction Loan to Affordable Housing Development for Homeless Military Veterans
by Mission First HousingFunds will be used for adaptive reuse of historic Whitehall Inn into 49 units
PHILADELPHIA – Citizens Bank announced today that its Community Development Lending Group has provided a $6.15 million construction loan to The Whitehall LP, whose sponsor is Mission First Housing Group, Inc.
The loan provides construction financing for the adaptive reuse of the vacant Whitehall Inn, built in 1762 and located at 3795 Schuylkill Road in Spring City, into a 49-unit affordable housing development. Mission First Housing Group will renovate the existing historic Whitehall Inn and construct a new addition that will create permanent housing for military veterans.