Wendover Opens Orlando-Area Affordable Community

Wendover Housing Partners has opened the 60-unit Monroe Landings, an affordable community in Sanford, Fla. The owner developed the community in partnership with the Orlando Housing Authority and the Sanford Housing Authority.

Wendover financed the property with $11.5 million in tax credit equity, $1.3 million from the Sanford Housing Authority, and a $2.8 million permanent loan from Neighborhood Lending Partners. According to Yardi Matrix data, the community is subject to a 55-year unsubordinated net ground lease held by the Sanford Housing Authority, which will expire in 2075.