Rehabilitation and financial restructuring of 3 apartment communities in the City of Rochester, Ramona Park, Fernwood Park and Norton Village. All three communities were built in the late 1940’s by community leaders for returning war veterans.
Location:
14 Ramona Park, Rochester, NY
Fernwood Park, 65 Waring Rd Rochester, NY
Norton Village, 2145 Norton St Rochester, NY
Completion: 2009
Number of Units: 516
Project Type: Rehabilitation/Preservation of Rental Housing
Project Cost: $61 million
Cornerstone's Role: Developer & Owner
Funding Sources:
Tax Exempt Bonds, 4% Low-Income Housing Credits, plus additional sources