Praxis recently provided development finance consulting on the Vista Creek and Vintage at Laughlin Apartments projects. The developments, 450 total units, are the first new multi-family housing to be constructed in over twenty years in the Town of Laughlin and serve the growing demand for affordable rental housing in the Laughlin, Bullhead City, AZ, Needles, CA Tri-State region. The $66 million financing includes tax-exempt bonds, with Fannie Mae credit enhancement, 4% LIHTCs, Section 1602 ARRA funds, and HOME funds through Clark County. The project opened in summer 2010.
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