EPIP Profile: The Gardens at St. Anthony’s
Project Name: The Gardens at St. Anthony’s Redevelopment, Syracuse
Borrower: Home Leasing LLC
Loan Date: 2019
Project Description: This EPIP loan is to fund roof repairs on the school and the convent at St. Anthony’s of Padua church complex in preparation for a planned $20.25 million project. When completed the convent and school will contain 54 very low income units (less than 50%/60% AMI) with half of those units set aside for the frail elderly. The school and convent both date to 1926 and are listed on the National Register of Historic Places. The school is designed in the Collegiate Gothic style while the convent is a more modest Tudor Revival building. Home Leasing LLC is purchasing the property from the City of Syracuse which has owned them for a number of years. They have a mission to develop, build and manage housing that “improves the lives of their residents” and which provides a “sustainable business while aspiring to do no harm, and benefit all”.
Use of Funds: Construction – roof repair
Project Status: Roof work is complete