HUD Omaha Closes Loan with Chrysalis Lutheran Homes for Elderly Project

Multi-story building with flag and bush in front.

On March 6, 2014, the HUD Omaha Multifamily and Legal divisions closed a $2,038,600 loan for an elderly project. It is located in Grand Island and called Chrysalis Lutheran Homes.

It was originally financed under a HUD Section 202 direct loan. Chrysalis Lutheran Homes is now insured under HUD's Section 223(f) mortgage insurance program.

The new loan allows for numerous repairs to update the existing 72 unit project. It assists in preserving HUD's Section 8 program.

More information about Chrysalis Lutheran Homes (www.seniorhousinggrandisland.com).

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