DE Monroe Terrace

Monroe Terrace
225 W. 4th Street, Wilmington, DE 19801

35 Units
General Occupancy
Placed in Service: 2011

Monroe Terrace was an acquisition and substantial rehabilitation of a scattered site 35-unit Project-Based Section 8 assisted family community located in the West Center City neighborhood of Wilmington, Delaware. With many of its scattered sites situated adjacent to West Center Village properties, this community, which was purchased from DSHA, helped build critical mass in the community. Residents were relocated through a rolling rehabilitation and rehousing program.

Source of Funds:

• LIHTC Equity
• Delaware State Housing Authority (DSHA) Housing Development Fund (HDF) Loan
• DSHA American Recovery and Reinvestment Act (ARRA) Section 1602 Tax Credit Exchange Program
• Conventional First Mortgage
• Conventional Construction Loan