{"id":1701,"date":"2012-06-20T15:46:50","date_gmt":"2012-06-20T15:46:50","guid":{"rendered":"https:\/\/www.nwrecc.org\/?p=1701"},"modified":"2021-09-08T15:48:30","modified_gmt":"2021-09-08T15:48:30","slug":"pioneer-square-apartments-rehabilitation-completion","status":"publish","type":"post","link":"https:\/\/www.nwrecc.org\/pioneer-square-apartments-rehabilitation-completion\/","title":{"rendered":"Pioneer Square Apartments rehabilitation completion."},"content":{"rendered":"<div class=\"wpb-content-wrapper\"><p>[vc_row][vc_column][vc_column_text]NWRECC is pleased to announce the completion of rehabilitation of the Pioneer Square Apartments, located in Boise, Idaho. This is the 13th project that NWRECC has successfully rehabilitated in the state of Idaho, and our 30th rehab project overall. The acquisition and rehabilitation of this property was a critical accomplishment for the preservation the 43 units subsidized by HUD for families in the downtown area. The financing structure utilized competitive 9% LIHTC, construction and permanent financing, along with a tax credit equity bridge loan.<\/p>\n<p>We closed on the financing and tax credit partnership for this project in August 2011. Our combined funding sources provided $5.5 million for the project&#8217;s acquisition and rehabilitation. PNC Real Estate, agreed to purchase the LIHTC that were allocated to the project by Idaho Housing and Finance Association (IHFA). The construction loan, permanent loan, and tax credit equity bridge loan have been provided by PNC Bank. Soft financing was provided by NWRECC to fill the financing and equity gap.<\/p>\n<p>Our rehab team for this project included CSHQA (Architect), CSDI Construction (General Contractor), and NWRECC (Developer). Construction began September 1, 2011 and was substantially complete, within schedule, by May 18, 2012. A ribbon cutting ceremony was held June 8, 2012, to celebrate completion of the rehab on this project and also to announce the grand opening of the seventh Northwest Stepping Stones Computer Learning Center (<a href=\"http:\/\/wsscl.wordpress.com\/\">Stepping Stones blog<\/a>) and Idaho&#8217;s newest HUD Neighborhood Networks.<\/p>\n<p>The scope of rehab for the eight residential buildings included improvement to exterior structural conditions such as new roofing, new siding, window and sliding door replacement, structural reinforcement to decking, and the addition of new privacy patio walls for apartments located along the Pioneer Walkway. Site work included sidewalk and parking lot repair and replacement, as well as new fencing along the Pioneer Walkway. Interior structural improvements such as extensive plumbing repair\/replacement, additional insulation in the attics and crawl spaces, addition of new through the wall air conditioning in all units, replacement of kitchen and bathroom cabinets and countertops, floor covering replacement, along with fixture and appliance replacement as needed. Accessibility standards were improved in the property&#8217;s common areas and accessible units, including the addition of an accessible office and community room.<\/p>\n<p>Thank you to all who made this project a success!<\/p>\n<p><a href=\"\/wp-content\/uploads\/2021\/09\/pioneer_before_after.pdf\" target=\"_blank\" rel=\"noopener\">View before and after photos of this project.<\/a>[\/vc_column_text][\/vc_column][\/vc_row]<\/p>\n<\/div>","protected":false},"excerpt":{"rendered":"<p>[vc_row][vc_column][vc_column_text]NWRECC is pleased to announce the completion of rehabilitation of the Pioneer Square Apartments, located in Boise, Idaho. This is the 13th project that NWRECC has successfully rehabilitated in the state of Idaho, and our 30th rehab project overall. The acquisition and rehabilitation of this property was a critical accomplishment for the preservation the 43&hellip;<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[19],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Pioneer Square Apartments rehabilitation completion. - Northwest Real Estate Capital Group<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.nwrecc.org\/pioneer-square-apartments-rehabilitation-completion\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Pioneer Square Apartments rehabilitation completion. - Northwest Real Estate Capital Group\" \/>\n<meta property=\"og:description\" content=\"[vc_row][vc_column][vc_column_text]NWRECC is pleased to announce the completion of rehabilitation of the Pioneer Square Apartments, located in Boise, Idaho. 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