May 17, 2022 – The Residences at Lafayette West had their groundbreaking for the first of a $150 million project. Local and city officials attended this important piece of Detroit’s revitalization efforts. UC Funds is the capital solution for this large project. More information on the event is found in this media coverage: https://www.clickondetroit.com/news/local/2022/05/17/150m-housing-development-breaks-ground-in-detroits-historic-lafayette-park/
UC Funds combined a creative capital structure with PACE funds to maximize the proceeds for the Sponsor. “The capital structure includes PACE, and we are very familiar with how to integrate PACE platforms into a winning capital solution,” said Joe Ambrose SVP of Production and Asset Management for UC Funds. “The sponsor team is very strong, and we see the promise of Detroit’s new growth trajectory.”
Lafayette Park is a historic and trendy neighborhood of Detroit that is approximately a half mile from the CBD and positioned for stout growth in the coming years catalyzed by more than $2 Billion in prominent mixed-use developments currently under construction in the immediate vicinity.
Detroit is undergoing a city-wide revitalization with significant economic development support of Quicken Loans CEO, Dan Gilbert, and buttressed by all of the Motor City corporations as well as tech companies such as Apple, Google, Amazon, and Microsoft.
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