Section 538 loans in Georgia
USDA's public file lists 113 Section 538 guaranteed loans in Georgia, $125,187,211 in all, financing 5,547 apartments. 112 of them also used housing tax credits. The median loan covered 20% of total development cost.
Lenders on these loans
- CHURCHILL MORTGAGE INVESTMENT LLC53
- GREYSTONE SERVICING COMPANY LLC21
- BONNEVILLE MORTGAGE COMPANY, LLC12
- PNC BANK, N.A.9
- LUMENT REAL ESTATE CAPITAL, LLC7
- BELLWETHER ENTERPRISE REAL ESTATE5
- SYNOVUS BANK4
- TRUIST BANK1
- KEYBANK NA1
Lender names as USDA records them. Open Country is not affiliated with any lender listed.
| Project | Closed | Loan | Loan to cost | Units | 1BR / 2BR / 3BR rent |
|---|---|---|---|---|---|
| Autumn Lane Apartments Washington · Rehab/Repair · LIHTC · CHURCHILL MORTGAGE INVESTMENT LLC | 2025 | $671,000 | 20% | 24 | $479 / $565 / $634 |
| Barton Village Apartments Arlington · Rehab/Repair · LIHTC · CHURCHILL MORTGAGE INVESTMENT LLC | 2025 | $406,000 | 16% | 18 | $810 / - / - |
| Brightwood Lane Washington · Rehab/Repair · LIHTC · CHURCHILL MORTGAGE INVESTMENT LLC | 2025 | $1,774,000 | 37% | 40 | $642 / $758 / $875 |
| Brooks Hollow Jasper · Rehab/Repair · LIHTC · CHURCHILL MORTGAGE INVESTMENT LLC | 2025 | $1,721,000 | 31% | 40 | $792 / $835 / - |
| Carriage Hill Lafayette · Rehab/Repair · LIHTC · CHURCHILL MORTGAGE INVESTMENT LLC | 2025 | $1,091,000 | 14% | 52 | $740 / $835 / $920 |
| Forrest Hills Apartments Crawford · Rehab/Repair · LIHTC · CHURCHILL MORTGAGE INVESTMENT LLC | 2025 | $397,000 | 12% | 24 | $678 / $746 / - |
| Greenwood Village Fort Gaines · Rehab/Repair · LIHTC · CHURCHILL MORTGAGE INVESTMENT LLC | 2025 | $720,000 | 20% | 24 | $805 / $863 / - |
| Jasmine Lane East Dublin · Rehab/Repair · LIHTC · CHURCHILL MORTGAGE INVESTMENT LLC | 2025 | $937,000 | 28% | 24 | $688 / $828 / $949 |
| Marshall Lane Marshallville · Rehab/Repair · LIHTC · CHURCHILL MORTGAGE INVESTMENT LLC | 2025 | $299,000 | 11% | 18 | $752 / $842 / $902 |
| Oak Lane Elberton · Rehab/Repair · LIHTC · CHURCHILL MORTGAGE INVESTMENT LLC | 2025 | $713,000 | 20% | 24 | $695 / $788 / - |
| Pecan Grove Sandersville · Rehab/Repair · LIHTC · CHURCHILL MORTGAGE INVESTMENT LLC | 2025 | $1,261,000 | 21% | 48 | $673 / $731 / - |
| Tan Yard Branch I Blairsville · Rehab/Repair · LIHTC · CHURCHILL MORTGAGE INVESTMENT LLC | 2025 | $1,085,000 | 30% | 24 | $878 / $917 / $983 |
| Brookwood Apartments Homerville · Rehab/Repair · LIHTC · CHURCHILL MORTGAGE INVESTMENT LLC | 2024 | $1,139,000 | 8% | 72 | $617 / $755 / $854 |
| Ware Manor Apartments Waycross · Rehab/Repair · BELLWETHER ENTERPRISE REAL ESTATE | 2024 | $5,000,000 | 34% | 84 | $836 / $965 / $1,067 |
| Twins Oaks Commons Ludowici · Rehab/Repair · LIHTC · BELLWETHER ENTERPRISE REAL ESTATE | 2023 | $790,000 | 13% | 40 | $430 / $530 / $580 |
| Carrollton Club Carrollton · Rehab/Repair · LIHTC · CHURCHILL MORTGAGE INVESTMENT LLC | 2022 | $4,091,000 | 34% | 80 | $805 / $855 / - |
| Country Grove Monroe · Rehab/Repair · LIHTC · CHURCHILL MORTGAGE INVESTMENT LLC | 2022 | $1,679,000 | 24% | 48 | $581 / $662 / - |
| East Orchard Elderly Hartwell · Rehab/Repair · LIHTC · CHURCHILL MORTGAGE INVESTMENT LLC | 2022 | $1,131,000 | 34% | 24 | $495 / - / - |
| The Gardens Blairsville · New Construction · LIHTC · CHURCHILL MORTGAGE INVESTMENT LLC | 2021 | $900,000 | 7% | 72 | $593 / $694 / $779 |
| Azalea Senior Village Hoshton · New Construction · LIHTC · LUMENT REAL ESTATE CAPITAL, LLC | 2019 | $605,300 | 5% | 65 | $440 / $622 / - |
| Azalea Senior Village Hoshton · New Construction · LIHTC · LUMENT REAL ESTATE CAPITAL, LLC | 2019 | $1,782,600 | 14% | 65 | $440 / $622 / - |
| Sawgrass Cove Apartments Darien · Rehab/Repair · LIHTC · CHURCHILL MORTGAGE INVESTMENT LLC | 2019 | $650,000 | 10% | 51 | $400 / $450 / - |
| Live Oak Villas Midway · New Construction · LIHTC · BONNEVILLE MORTGAGE COMPANY, LLC | 2019 | $1,200,000 | 12% | 60 | $491 / $591 / - |
| Arbor Trace II Lake Park · Rehab/Repair · LIHTC · CHURCHILL MORTGAGE INVESTMENT LLC | 2018 | $475,000 | 12% | 43 | $604 / $677 / $799 |
| Arbor Trace I Lake Park · Rehab/Repair · LIHTC · CHURCHILL MORTGAGE INVESTMENT LLC | 2018 | $643,000 | 28% | 24 | $575 / - / - |
| Douglass Village Apartments Douglasville · Rehab/Repair · LIHTC · BELLWETHER ENTERPRISE REAL ESTATE | 2018 | $8,000,000 | 41% | 88 | - / $1,062 / $1,192 |
| Fox Chase II Greensboro · Rehab/Repair · LIHTC · CHURCHILL MORTGAGE INVESTMENT LLC | 2018 | $1,062,000 | 36% | 33 | $576 / - / - |
| Heritage Villas Helena · Rehab/Repair · LIHTC · CHURCHILL MORTGAGE INVESTMENT LLC | 2018 | $855,000 | 38% | 25 | $519 / $581 / - |
| Magnolia Terrace Buena Vista · Rehab/Repair · LIHTC · CHURCHILL MORTGAGE INVESTMENT LLC | 2018 | $796,000 | 35% | 25 | $575 / $650 / - |
| Meadow Run I Dawson · Rehab/Repair · LIHTC · CHURCHILL MORTGAGE INVESTMENT LLC | 2018 | $341,000 | 8% | 49 | $480 / $595 / $635 |
| Meadow Run II Dawson · Rehab/Repair · LIHTC · CHURCHILL MORTGAGE INVESTMENT LLC | 2018 | $813,000 | 23% | 40 | $426 / $506 / - |
| Pecan Pointe Mt. Vernon · Rehab/Repair · LIHTC · CHURCHILL MORTGAGE INVESTMENT LLC | 2018 | $466,000 | 23% | 21 | $519 / $581 / - |
| Riverwood Blue Ridge · Rehab/Repair · LIHTC · CHURCHILL MORTGAGE INVESTMENT LLC | 2018 | $1,493,000 | 42% | 41 | $610 / $700 / - |
| Rock Springs Winder · Rehab/Repair · LIHTC · CHURCHILL MORTGAGE INVESTMENT LLC | 2018 | $550,000 | 12% | 48 | $449 / $468 / - |
| Rolling Hills Newnan · Rehab/Repair · LIHTC · CHURCHILL MORTGAGE INVESTMENT LLC | 2018 | $517,000 | 12% | 50 | $455 / $495 / - |
| Summerset Swainsboro · Rehab/Repair · LIHTC · CHURCHILL MORTGAGE INVESTMENT LLC | 2018 | $1,075,000 | 39% | 31 | $575 / $595 / - |
| Whispering Pines Pearson · Rehab/Repair · LIHTC · CHURCHILL MORTGAGE INVESTMENT LLC | 2018 | $901,000 | 42% | 25 | $567 / $595 / - |
| Woodvalley Richland · Rehab/Repair · LIHTC · CHURCHILL MORTGAGE INVESTMENT LLC | 2018 | $588,000 | 21% | 33 | $487 / $579 / - |
| The Breakers At Trion Trion · New Construction · LIHTC · BONNEVILLE MORTGAGE COMPANY, LLC | 2018 | $555,000 | 5% | 68 | $510 / $612 / - |
| St Andrew's Court Byron · New Construction · LIHTC · BONNEVILLE MORTGAGE COMPANY, LLC | 2018 | $1,250,000 | 10% | 80 | $350 / $687 / - |
| Brentwood At Douthit Ferry Cartersville · New Construction · LIHTC · LUMENT REAL ESTATE CAPITAL, LLC | 2018 | $1,720,800 | 15% | 70 | $539 / $631 / - |
| Arrowhead Apartments Hawkinsville · Rehab/Repair · LIHTC · GREYSTONE SERVICING COMPANY LLC | 2018 | $1,352,000 | 37% | 51 | $440 / $464 / - |
| Chester Apartments Chester · Rehab/Repair · LIHTC · GREYSTONE SERVICING COMPANY LLC | 2018 | $447,000 | 20% | 24 | $595 / $680 / - |
| Cumberland Village Apartments St. Mary's · Rehab/Repair · LIHTC · GREYSTONE SERVICING COMPANY LLC | 2018 | $1,266,000 | 27% | 65 | $637 / $746 / $768 |
| The Forest Apartments III Moultrie · Rehab/Repair · LIHTC · GREYSTONE SERVICING COMPANY LLC | 2018 | $832,000 | 19% | 53 | $377 / $393 / - |
| The Forest Apartments I & II Moultrie · Rehab/Repair · LIHTC · GREYSTONE SERVICING COMPANY LLC | 2018 | $2,135,000 | 25% | 119 | $368 / $408 / - |
| Gray Gardens Apartments Gray · Rehab/Repair · LIHTC · GREYSTONE SERVICING COMPANY LLC | 2018 | $1,651,000 | 33% | 56 | $586 / $596 / $616 |
| The Grove Apartments Vidalia · Rehab/Repair · LIHTC · GREYSTONE SERVICING COMPANY LLC | 2018 | $1,182,000 | 25% | 55 | $416 / $469 / - |
| Hillcrest Apartments Pelham · Rehab/Repair · LIHTC · GREYSTONE SERVICING COMPANY LLC | 2018 | $930,000 | 23% | 49 | $587 / $600 / $620 |
| Hilltop Terrace I Kingsland · Rehab/Repair · LIHTC · GREYSTONE SERVICING COMPANY LLC | 2018 | $1,395,000 | 30% | 55 | $637 / $746 / $768 |
| Hilltop Terrace II Kingland · Rehab/Repair · LIHTC · GREYSTONE SERVICING COMPANY LLC | 2018 | $1,438,000 | 32% | 55 | $555 / $650 / - |
| Hunters Run Apartments Douglas · Rehab/Repair · LIHTC · GREYSTONE SERVICING COMPANY LLC | 2018 | $815,000 | 18% | 51 | $400 / $450 / - |
| Piedmont Hills Forsyth · Rehab/Repair · LIHTC · GREYSTONE SERVICING COMPANY LLC | 2018 | $1,241,000 | 26% | 51 | $486 / $500 / - |
| Plantation Apartments Richmond Hill · Rehab/Repair · LIHTC · GREYSTONE SERVICING COMPANY LLC | 2018 | $3,747,000 | 27% | 165 | $405 / $435 / $498 |
| Quail Hollow I Apartments Omerville · Rehab/Repair · LIHTC · GREYSTONE SERVICING COMPANY LLC | 2018 | $865,000 | 19% | 55 | $490 / $520 / - |
| Quail Hollow II Homerville · Rehab/Repair · LIHTC · GREYSTONE SERVICING COMPANY LLC | 2018 | $554,000 | 15% | 41 | $379 / $409 / - |
| Sandalwood Terrace Ludowici · Rehab/Repair · LIHTC · GREYSTONE SERVICING COMPANY LLC | 2018 | $660,000 | 23% | 31 | $471 / $497 / - |
| Satilla Villas Woodbine · Rehab/Repair · LIHTC · GREYSTONE SERVICING COMPANY LLC | 2018 | $1,801,000 | 39% | 59 | $637 / $746 / $768 |
| Spring Hollow Apartments Springfield · Rehab/Repair · LIHTC · GREYSTONE SERVICING COMPANY LLC | 2018 | $1,173,000 | 25% | 53 | $530 / $640 / - |
| Wildwood Villas I Statesboro · Rehab/Repair · LIHTC · GREYSTONE SERVICING COMPANY LLC | 2018 | $1,195,000 | 37% | 53 | $404 / $445 / - |
| Wildwood Villas II Statesboro · Rehab/Repair · LIHTC · GREYSTONE SERVICING COMPANY LLC | 2018 | $1,718,000 | 34% | 58 | $468 / $546 / - |
| Yester Oaks Lafayette · Rehab/Repair · LIHTC · GREYSTONE SERVICING COMPANY LLC | 2018 | $932,000 | 23% | 44 | $480 / $505 / - |
| Ashton Cove Apartments Kingsland · Rehab/Repair · LIHTC · CHURCHILL MORTGAGE INVESTMENT LLC | 2017 | $600,000 | 5% | 72 | $350 / $400 / $450 |
| The Village On Park Hahira · New Construction · LIHTC · LUMENT REAL ESTATE CAPITAL, LLC | 2017 | $1,266,000 | 12% | 64 | $340 / $400 / $450 |
| Village Of Ben Hill Fitzgerald · New Construction · LIHTC · LUMENT REAL ESTATE CAPITAL, LLC | 2017 | $915,000 | 10% | 50 | $283 / $326 / $485 |
| Pine Trails Waynesboro · New Construction · LIHTC · BONNEVILLE MORTGAGE COMPANY, LLC | 2017 | $1,020,000 | 10% | 60 | $546 / $665 / $798 |
| Heritage Pointe Douglas · New Construction · LIHTC · LUMENT REAL ESTATE CAPITAL, LLC | 2017 | $942,000 | 10% | 52 | $283 / $326 / $365 |
| The Village At Winding Road II St Mary's · New Construction · LIHTC · LUMENT REAL ESTATE CAPITAL, LLC | 2017 | $1,200,000 | 10% | 70 | $425 / $500 / $535 |
| Stone Ridge Apartments Calhoun · New Construction · LIHTC · BONNEVILLE MORTGAGE COMPANY, LLC | 2017 | $1,250,000 | 10% | 64 | $505 / $602 / $682 |
| Peaks Of Cornelia Cornelia · New Construction · LIHTC · CHURCHILL MORTGAGE INVESTMENT LLC | 2017 | $1,500,000 | 12% | 80 | $350 / $450 / $550 |
| Southfork Apartments Camilla · Rehab/Repair · LIHTC · CHURCHILL MORTGAGE INVESTMENT LLC | 2017 | $1,350,000 | 9% | 96 | $295 / $465 / $520 |
| Village At Blackshear Blackshear · Rehab/Repair · LIHTC · BONNEVILLE MORTGAGE COMPANY, LLC | 2015 | $1,300,000 | 14% | 64 | $473 / - / - |
| Tan Yard Branch Apts II Blairsville · Rehab/Repair · LIHTC · CHURCHILL MORTGAGE INVESTMENT LLC | 2014 | $960,900 | 46% | 25 | $650 / $725 / - |
| Heritage Oaks Cordele · Rehab/Repair · LIHTC · CHURCHILL MORTGAGE INVESTMENT LLC | 2014 | $360,900 | 9% | 50 | $435 / $480 / - |
| Heritage Manor Apartments Donalsonville · Rehab/Repair · LIHTC · CHURCHILL MORTGAGE INVESTMENT LLC | 2014 | $756,000 | 31% | 32 | $490 / $510 / $530 |
| Wildwood Apts Elberton · Rehab/Repair · LIHTC · CHURCHILL MORTGAGE INVESTMENT LLC | 2014 | $840,300 | 26% | 50 | $390 / $435 / - |
| Cox Creek Apartments Ellijay · Rehab/Repair · LIHTC · CHURCHILL MORTGAGE INVESTMENT LLC | 2014 | $268,700 | 13% | 25 | $445 / $490 / - |
| Pepperton Villas Jackson · Rehab/Repair · LIHTC · CHURCHILL MORTGAGE INVESTMENT LLC | 2014 | $948,900 | 42% | 29 | $425 / - / - |
| Hidden Creek Apartments Manchester · Rehab/Repair · LIHTC · CHURCHILL MORTGAGE INVESTMENT LLC | 2014 | $1,805,000 | 50% | 49 | $570 / $655 / $700 |
| Pigeon Bluff Apartments Manchester · Rehab/Repair · LIHTC · CHURCHILL MORTGAGE INVESTMENT LLC | 2014 | $775,900 | 49% | 18 | $410 / $425 / $440 |
| Pigeon Creek Apartments Manchester · Rehab/Repair · LIHTC · CHURCHILL MORTGAGE INVESTMENT LLC | 2014 | $1,540,000 | 50% | 42 | $405 / $420 / - |
| Warm Springs Apts Warm Springs · Rehab/Repair · LIHTC · CHURCHILL MORTGAGE INVESTMENT LLC | 2014 | $248,400 | 13% | 22 | $390 / $425 / $435 |
| Brier Creek Millen · Rehab/Repair · LIHTC · CHURCHILL MORTGAGE INVESTMENT LLC | 2014 | $401,500 | 17% | 28 | $510 / - / - |
| Pinebrook Apartments Perry · Rehab/Repair · LIHTC · CHURCHILL MORTGAGE INVESTMENT LLC | 2014 | $737,800 | 18% | 52 | $395 / $415 / - |
| Crestview Manor Royston · Rehab/Repair · LIHTC · CHURCHILL MORTGAGE INVESTMENT LLC | 2014 | $593,700 | 30% | 25 | $430 / $450 / - |
| Meadow Wood Apartments Sardis · Rehab/Repair · LIHTC · CHURCHILL MORTGAGE INVESTMENT LLC | 2014 | $718,300 | 37% | 24 | $480 / $575 / $605 |
| Fairfield Apartments I & II Vienna · Rehab/Repair · LIHTC · CHURCHILL MORTGAGE INVESTMENT LLC | 2014 | $1,791,000 | 44% | 48 | $600 / $625 / - |
| Lafayette Gardens Apartments Lafayette · Rehab/Repair · LIHTC · CHURCHILL MORTGAGE INVESTMENT LLC | 2014 | $770,000 | 48% | 20 | $470 / $495 / - |
| Forest Ridge Apartments Waynesboro · Rehab/Repair · LIHTC · CHURCHILL MORTGAGE INVESTMENT LLC | 2014 | $532,800 | 29% | 24 | $525 / $580 / - |
| Woodland Terrace Apts. Waynesboro · Rehab/Repair · LIHTC · CHURCHILL MORTGAGE INVESTMENT LLC | 2014 | $474,600 | 19% | 30 | $380 / $410 / $435 |
| Tanglewood Apartments Blakely · Rehab/Repair · LIHTC · BONNEVILLE MORTGAGE COMPANY, LLC | 2013 | $1,575,000 | 20% | 51 | $505 / $612 / $703 |
| Cameron Court Perry · New Construction · LIHTC · SYNOVUS BANK | 2010 | $1,144,000 | 15% | 64 | $373 / $397 / $438 |
| Windsor Court Ft Valley · New Construction · LIHTC · SYNOVUS BANK | 2010 | $411,000 | 7% | 56 | $316 / $348 / - |
| Prairie Summit Apartments Gordon · Rehab/Repair · LIHTC · BONNEVILLE MORTGAGE COMPANY, LLC | 2010 | $1,775,000 | 22% | 72 | $442 / $501 / $535 |
| Skyline Trace Apts Monroe · New Construction · LIHTC · BONNEVILLE MORTGAGE COMPANY, LLC | 2009 | $2,118,982 | 24% | 64 | $525 / $550 / $625 |
| Tifton Estates Tifton · New Construction · LIHTC · BELLWETHER ENTERPRISE REAL ESTATE | 2009 | $775,000 | 12% | 34 | - / - / $504 |
| Washington Estates Tennille · New Construction · LIHTC · BELLWETHER ENTERPRISE REAL ESTATE | 2009 | $875,000 | 9% | 54 | - / $475 / $498 |
| Catoosa Senior Village II Calhoun · New Construction · LIHTC · BONNEVILLE MORTGAGE COMPANY, LLC | 2008 | $1,600,000 | 26% | 52 | $384 / $455 / - |
| Cloverset Place Hazlehurst · New Construction · LIHTC · BONNEVILLE MORTGAGE COMPANY, LLC | 2008 | $460,000 | 10% | 40 | $325 / $350 / $385 |
| Blakely Commons Blakely · New Construction · LIHTC · TRUIST BANK | 2008 | $760,000 | 8% | 64 | - / - / $390 |
| Lyons Apartments Lyons · Rehab/Repair · LIHTC · BONNEVILLE MORTGAGE COMPANY, LLC | 2007 | $1,209,829 | 15% | 62 | $418 / $437 / $495 |
| Annadale Park Ashburn · New Construction · LIHTC · PNC BANK, N.A. | 2007 | $250,000 | 6% | 36 | $320 / $340 / - |
| Autumn Crest Dawson · New Construction · LIHTC · PNC BANK, N.A. | 2007 | $250,000 | 6% | 36 | $320 / $340 / - |
| Mulberry Court Fitzgerald · New Construction · LIHTC · PNC BANK, N.A. | 2007 | $250,000 | 5% | 48 | $325 / $375 / - |
| Cypresswood Apartments Pearson · Rehab/Repair · LIHTC · PNC BANK, N.A. | 2006 | $1,010,000 | 35% | 27 | $456 / $502 / $574 |
| Cottonwood Pointe Camilla · New Construction · LIHTC · PNC BANK, N.A. | 2006 | $440,000 | 10% | 48 | $297 / $319 / - |
| Heathrow Senior Village Byron · New Construction · LIHTC · SYNOVUS BANK | 2005 | $1,136,000 | 24% | 52 | $400 / $450 / $475 |
| Monterey Pass Thomson · New Construction · LIHTC · PNC BANK, N.A. | 2005 | $615,000 | 12% | 60 | $320 / $350 / - |
| Overlook Pointe Cordele · New Construction · LIHTC · PNC BANK, N.A. | 2005 | $547,000 | 12% | 56 | $320 / $350 / - |
| Dulles Park Gray · New Construction · LIHTC · SYNOVUS BANK | 2004 | $1,500,000 | 25% | 68 | $383 / $464 / $460 |
| Auburn Ridge Trenton · New Construction · LIHTC · PNC BANK, N.A. | 2004 | $370,000 | 7% | 60 | $357 / $422 / $512 |
| Sunset Pointe Apartments Jesup · New Construction · LIHTC · PNC BANK, N.A. | 2004 | $395,000 | 7% | 64 | $269 / $315 / $409 |
| The Chateau Apartments Vidalia · New Construction · LIHTC · KEYBANK NA | 2003 | $380,000 | 8% | 56 | $290 / $325 / $340 |