Fairhaven Summit has Officially Closed

May 8, 2024

The Commonwealth Companies and Wisconsin Partnership for Housing Development are thrilled to see 77 units of family housing find their place in Asheville, NC.  I commend our team for their determination amidst the myriad of challenges this project encountered along the way.

Our collaborators truly embodied partnership throughout, standing by this project for over 2.5 years as we navigated to this point. Much gratitude to NCHFA for their patience and allocation of the 9% federal housing tax credits.  Special thanks to The Richman Group, the Community Development Banking team at Bank of America, and the team at Berkadia for their pivotal role in providing debt and equity.

Local stakeholders also stepped up big, ensuring the realization of these much-needed affordable units in Asheville. Thanks to the Housing Authority City of Asheville team, the City of Asheville, and Buncombe County Government for their invaluable contributions.

Lastly, sincere appreciation to Foley & Lardner LLP, First American Title, M+A, and Arlington Construction Services, LLC, and all others who lent their support to this vital project. Construction is officially underway!

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