St. James is an existing 151 unit Senior Affordable Housing high-rise originally built in 1968 and located in Baltimore, MD. SAA|EVI, in a development partnership with Stratford Capital Group, structured a partnership agreement with the current non-profit owner and is in the process of securing a new 20 year Section 8 Project Based Contract. SAA|EVI will complete a re-financing strategy which involves the issuance of Tax Exempt Bonds, HUD 221(d)(4) credit enhancement and 4% LIHTC utilized to acquire the property and complete significant repairs and upgrades to the units and common areas, as well as key building components. Anticipated construction completion is Q1 2018.
