Churchill Stateside Group Provides $11,699,000 Rehabilitation Loan for Vineland Gardens in Vineland, New Jersey

CLEARWATER, Fla.--(BUSINESS WIRE)--Churchill Stateside Group (“CSG”), a real estate and renewable energy financial services company, is pleased to announce the closing of an $11,699,000 rehabilitation loan for Vineland Gardens, a 76-unit affordable family housing community located in Vineland, NJ.

The construction loan was provided through CSG subsidiary Churchill Mortgage Construction LLC (CMC). The financing supports the substantial, property-wide rehabilitation of the existing apartment community, originally constructed in 1972.

Vineland Gardens consists of four two-story residential buildings serving income-qualified families, with 100% of the units restricted to households earning up to 60% of Area Median Income (AMI).

The rehabilitation is being completed as part of a 4% Low-Income Housing Tax Credit (LIHTC) redevelopment, and includes comprehensive upgrades to building systems, unit interiors, and site improvements.

Dan Duda, Executive Vice President, National Director of Originations & Acquisitions for CSG, stated:

“Vineland Gardens represents a significant rehabilitation effort that will enhance the quality and longevity of an existing affordable housing community. Our team worked closely with the development team, Foresight Affordable Housing, Inc., to structure the rehabilitation financing needed to successfully execute the redevelopment. Foresight Affordable Housing, Inc brings a tremendous amount of development experience and we are proud to work with such a great development partner.”

Keith Gloeckl, Chief Executive Officer of CSG, added:

“This closing highlights CSG’s ability to deliver construction financing solutions for affordable housing developments. We take pride in helping our clients move projects like Vineland Gardens forward efficiently while continuing to serve residents and communities.”

Churchill Stateside Group remains a leader in affordable housing finance, delivering creative, client-focused capital solutions that support strong communities nationwide.

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About Churchill Stateside Group

Churchill Stateside Group and its wholly owned affiliates (CSG) serve the affordable housing and commercial renewable energy industries. CSG sponsors tax credit equity investment funds for institutional investors and provides a variety of construction, permanent, and bond financing solutions. With over $6.5 Billion of assets under management, CSG has long-standing and successful investment relationships with numerous corporate investors. The company's investor and developer clients benefit from our experienced staff, prominent and proactive senior leadership, and attractive debt and equity platforms. The company, through its subsidiary Churchill Mortgage Investment LLC (CMI), is an approved USDA Rural Development and HUD/FHA MAP and LEAN lender and Ginnie Mae Issuer, seller, and servicer.