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MEDIA ALERT: Winterwood, Inc. Affordable Housing Preservation Grand Reopening Ceremony on June 1

/EIN News/ -- LAWRENCEBURG, Ky., May 30, 2017 (GLOBE NEWSWIRE) --

WHAT: Winterwood, Inc. will host a significant event to mark the grand reopening, post-rehabilitation, for 18 aged USDA Rural Development Section 515 affordable housing properties.

The company (based in Lexington) recently under­took a major initiative to preserve and modernize these properties located throughout several small rural markets in Kentucky. The properties are comprised of 563 apartment homes serving low-income households in 14 counties across the state.

Winterwood, Inc. joined forces with Greystone Affordable Development (a division of Greystone & Co., Inc. and based in Raleigh, NC) to determine how best to accomplish their goal in a timely and financially viable manner, while also maximizing the community impact on the local markets. In addition to the recapitalization, Greystone arranged for 253 units in the portfolio to utilize energy incentives and rebates with the Home Energy Analysis and Home Energy Rebates programs available through Louisville Gas and Electric Company and Kentucky Utilities Company.

In a complex statewide pooled tax exempt bond transaction totaling $64.4 million, Greystone Affordable Development worked closely with USDA’s Rural Housing Service (RHS) National and Kentucky State Offices, as well as the Kentucky Housing Corporation (KHC) to coordinate and secure the financing needed to acquire and rehabilitate this at-risk and much-needed housing.

WHO: Distinguished speakers at the Grand Reopening Ceremony, beginning at 11:00, will include:

  • Welcome - Carol Worsham, President/CEO, Winterwood, Inc.
  • USDA Remarks - Bryan Hooper, Deputy Administrator, USDA
  • Investor Remarks- Greg Mayo, Vice President, Acquisitions, CAHEC
  • Resident Remarks - Keith L. Marshall, Resident, Brayton Apartments
  • KHC Remarks - Kathy Peters, Executive Director/CEO, Kentucky Housing Corporation
  • Congressional Remarks - Tatum Dale, Director of Field Operations, Congressman Andy Barr
  • Congressional Remarks - Ethan Witt, Field Representative, U.S. Senator Mitch McConnell
  • Keynote Speaker - Representative Russ A Meyer, KY Representative, House District 39
  • Closing Remarks - Tanya Eastwood, President/CEO, Greystone Affordable Development

WHEN: Thursday, June 1, 2017

10:30-11:00       Property Tours
11:00-12:15       Ceremony
12:15-12:30       Ribbon Cutting Ceremony

Brayton Apartments
10 Lynn Drive, Lawrenceburg, KY 40342

QUESTIONS: For more information on the event, please contact Karen Marotta at Greystone & Co., (212) 896-9149 or karen.marotta@greyco.com.

 

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