Woodhaven Park Apartments

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The Woodhaven Park Apartments project consists of a 304-unit affordable multifamily rental housing development located at 6363 Commons Drive, Indianapolis, Marion County, Indiana 46254. JPC Charities acquired the membership interest in and became the sole member of FARH-West Affordable Housing, Inc., a 501(c)(3) organization and the owner of Woodhaven Park Apartments on February 18, 2016. This project was financed with the proceeds of the issuance $38,415,000 in original aggregate principal amount of Public Finance Authority Multifamily Housing Revenue Bonds (Woodhaven Park Apartments and Estates at Crystal Bay Apartments Project) Series 2016.  S&P rated these bonds and these bonds currently have a credit rating of “A-”.    As of August 1, 2016, the units in the Woodhaven Park Apartments are 92% occupied.  The project has made all debt service payments, when due, and is in material compliance with its financial and operating covenants.