ASI Multifamily Impact Fund, LP Acquires Crosswinds Apartments

The ASI Multi-Family Impact Fund, LP, which is focused on providing Affordable and Workforce housing primarily serving minority populations and lower income residents, recently acquired Crosswinds Apartments – an affordable, 109-unit multifamily property situated in Chesapeake, a quiet suburban community located less than seven miles from downtown Norfolk, Virginia. Crosswinds is comprised of 8 two-story brick masonry garden-style residential buildings which includes a leasing office, with community amenities including laundry facilities, playground, outdoor covered mailbox area and picnic area/BBQ grills. Placed in service in 2004, the Property is subject to LIHTC Regulatory Agreements restricting 100% of the units to 60% of Area Median Income with 30 units or 28% of the tenant base receiving Section 8 vouchers.

Click here to learn more about the Crosswinds property, or click here to learn more about the ASI Multi-Family Impact Fund, LP and feel free to contact us for more information.

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