08/03/2015
Citizens Bank provides $5.35 million loan for affordable rental housing development
PITTSBURGH – Citizens Bank announced today that its Community Development Lending Group has provided a $5.35 million loan to 2403 Perrysville Plaza LP for the rehabilitation of 100 affordable housing units.
The project will consist of a substantial rehabilitation of a 10-story building containing 100 one-bedroom units and a two-bedroom manager unit. The 100 units will be affordable for family households with incomes at or below 50 percent of area median income (AMI).
Mistick Construction will be general contractor on the project on behalf of the owner of the affordable housing development, Perrysville Plaza Apartments, LLC.
“We highly value the partnership with Citizens Bank on this project, which will help us further our goal of providing more quality affordable housing for residents of Pittsburgh,” said Patty Recklitis, General Partner of Perrysville Plaza Apartments, LLC.
“We are pleased to be part of this project and to help provide more quality affordable housing for Pittsburgh residents,” said Dan Fitzpatrick, President of Citizens Bank in Pennsylvania.
For more information, please go to the Citizens Bank website.
About Citizens Financial Group, Inc.
Citizens Financial Group, Inc. is one of the nation’s oldest and largest financial institutions, with $137.3 billion in assets as of June 30, 2015. Headquartered in Providence, Rhode Island, Citizens offers a broad range of retail and commercial banking products and services to individuals, small businesses, middle‐market companies, large corporations and institutions. In Consumer Banking, Citizens helps its retail customers “bank better” with mobile and online banking, a 24/7 customer contact center and the convenience of approximately 3,200 ATMs and approximately 1,200 Citizens Bank branches in 11 states in the New England, Mid‐Atlantic and Midwest regions. Citizens also provides mortgage lending, auto lending, student lending and commercial banking services in select markets nationwide. In Commercial Banking, Citizens offers corporate, institutional and not‐for‐profit clients a full range of wholesale banking products and services including lending and deposits, capital markets, treasury services, foreign exchange and interest hedging, leasing and asset finance, specialty finance and trade finance.
Citizens operates through its subsidiaries Citizens Bank, N.A., and Citizens Bank of Pennsylvania. Additional information about Citizens and its full line of products and services can be found at www.citizensbank.com.
