{"type":"rich","version":"1.0","provider_name":"Transistor","provider_url":"https://transistor.fm","author_name":"The Spring Street Brief","title":"Episode 184: Merchants Capital's $97.8M Stuart Gardens Rehab in Newport","html":"<iframe width=\"100%\" height=\"180\" frameborder=\"no\" scrolling=\"no\" seamless src=\"https://share.transistor.fm/e/26767707\"></iframe>","width":"100%","height":180,"duration":209,"description":"Merchants Capital has closed a $97.8 million financing package to rehabilitate Stuart Gardens, a 491-unit affordable housing development in Newport News, Virginia. The deal layers five distinct capital sources — including a $62.8 million HUD 221(d)(4) permanent loan, $35 million in equity bridge financing from Merchants Bank, LIHTC equity, federal and state historic tax credits, and HUD Green and Resilient Retrofit Program (GRRP) financing — making it a benchmark transaction for preservation-focused affordable developers operating in today's high-cost environment.","thumbnail_url":"https://img.transistorcdn.com/eww4KoCb2-o7-dD11A42DpSkBhZjKNEkIb9mGj3dsyg/rs:fill:0:0:1/w:400/h:400/q:60/mb:500000/aHR0cHM6Ly9pbWct/dXBsb2FkLXByb2R1/Y3Rpb24udHJhbnNp/c3Rvci5mbS81YWNi/MGVlZjVhN2FjYzBk/NDY5YWEyOTA3MWMw/MWViZS5wbmc.webp","thumbnail_width":300,"thumbnail_height":300}