Silver Sage
Silver Sage, a 41 unit senior housing project in Reno, opened in May 2007. The CDFI is providing a $1,090,000 permanent loan for the project. The loan is priced at 6.3% fixed with a 30 year amortization period and a 16 year call.
Capital needed for the CDFI to provide the loan was provided by EQ2 investments from Charles Schwab Bank, US Bank and Wells Fargo. Wells Fargo provided the construction loan.
 The development is located on an infill 1.5-acre parcel immediately to the north of Holy Cross Lutheran Church. Jamaica Park is adjacent to the site, to the west. Immediately across McCarran Blvd to the south is the Meadowood Mall, Reno's largest regional mall.
The project consists of a two-story, new construction, elevator residence and includes 33 one-bedroom and 8 two-bedroom, accessible/ adaptable apartments with balconies as well as community and service space. Common areas include a dining room with warming kitchen, a library/lounge, a computer lab, an office for supportive service staff, and secure and landscaped grounds, courtyards, and porches.
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