Churchill Stateside Group Provides $900,000 Interim Bridge Loan for Orchard Village in Detroit, Michigan

CLEARWATER, Fla.--(BUSINESS WIRE)--Churchill Stateside Group (“CSG”) is pleased to announce the closing of a $900,000 interim bridge loan for Orchard Village, a 48-unit affordable family housing community located in Detroit, Michigan.

The interim bridge loan was provided through CSG affiliate Churchill Mortgage Construction LLC (CMC) and supports the transition to permanent financing through the HUD Section 223(f) loan program. Orchard Village is a newly constructed LIHTC apartment community serving income-qualified families.

The bridge financing provides short-term capital to facilitate a smooth conversion to long-term, fixed-rate permanent financing, aligned with the project’s stabilization and operating performance.

The property includes a range of affordability levels, with units designated for households earning between 30% and 60% of Area Median Income (AMI), including 10 units at 30% AMI, 10 units at 40% AMI, 3 units at 50% AMI, 24 units at 60% AMI, and one High HOME unit.

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

“Orchard Village is a strong example of how interim bridge financing can support the transition from construction to permanent financing. Our team worked closely with the sponsor to provide a flexible solution that keeps the project moving forward while positioning it for long-term execution.”

Keith Gloeckl, Chief Executive Officer of CSG, added:

“This closing highlights CSG’s ability to deliver tailored financing solutions across multiple stages of the development lifecycle. By providing interim capital, we help ensure a seamless path to permanent financing while supporting high-quality affordable housing developments.”

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 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.