08/10/2016
Citizens Bank Provides $10.1 Million Loan for Affordable Housing Development
GREENVILLE, PA – Citizens Bank announced today that its Community Development Lending Group is providing $10.1 million in construction financing to Greenville Housing Partners, LP, whose sponsor is a.m. Rodriguez Associates, for the renovation of the 101-unit Reynolds West Estates affordable housing development.
The development at 325 Twelfth St. in Greenville includes 100 units that are reserved for tenants at or below 60 percent area median income (AMI).
“We greatly value our partnership with Citizens Bank and appreciate the Community Development Lending Group’s smart ideas and timely execution,” said project developer Anthony M. Rodriguez. “Citizens’ commitment to affordable housing is clear and the bank’s experience with these types of transactions makes a big difference.”
“We are very pleased to be part of the Reynolds West Estates development and to be able to help the a.m. Rodriguez team achieve its strategic and financial goals,” said Daniel K. Fitzpatrick, President of Citizens Bank of Pennsylvania, New Jersey and Delaware. “Citizens is committed to supporting affordable housing, so this is a really great project for us.”
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 $145.2 billion in assets as of June 30, 2016. 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 as Citizens Bank, Citizens Commercial Banking and Citizens One. Additional information about Citizens and its full line of products and services can be found at www.citizensbank.com.
