Beckett Gardens is a 132-unit affordable, family property located in Philadelphia, Pennsylvania.
$12,100,000 fixed rate tax-exempt bond financing providing construction and permanent loan capital.
Red Stone purchased $12,100,000 of fixed rate tax-exempt bonds used to acquire and preserve Beckett Gardens. The property is located in northern Philadelphia near Temple University. The bond proceeds were used to improve the property with capital work exceeding $62,500 per unit in addition to the construction ‘Beckett Life Center’, a community center with the mission to help disadvantaged children and their families achieve their educational and professional goals.