News & Resources

Regulatory Roundup: Centrant Presents Program Overview to OCC

Regulatory Roundup: Centrant Presents Program Overview to OCC On March 28th, Scotty Duncan of the OCC hosted Centrant’s SVP of Credit and Lending, Rocky Herring, at a quarterly gathering of approximately thirty safety and soundness field examiners in Charlotte, NC.  This was a wonderful opportunity to provide examiners with an overview of the LIHTC program,…

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Two Centrant Loan Closings Cap Busy January

Following its earlier closing announcement for Givens Gerber Park III, Centrant Community Capital is pleased to announce two additional closings during the final week of January:  Greenbrier Landing, located in Kinston, NC, and Parkside at Bethel, a new community in Clover, SC. Greenbrier Landing (Kinston, NC) Greenbrier Landing was developed by The Pendergraph Companies, a…

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Now Available – 2018 Impact Report

Centrant Community Capital is pleased to share its 2018 Impact Report – A Year of Change, Growth and Expansion.  As we review and celebrate last year’s achievements, we also wish to acknowledge and thank the member banks, developers and other community partners whose contributions help to make our success possible. 2018 Impact Report – A…

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Centrant Finances Affordable Senior Housing in Asheville, NC

Centrant Community Capital has closed a $1.03 million permanent mortgage to complete the financing requirements for Phase III of Givens Gerber Park, located in Asheville, NC. This new, 60-unit property provides 45 one-bedroom units and 15 two-bedroom units to seniors earning between 30-60% of the area median income. Givens Gerber Park was developed by The…

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Centrant Offers CRA Reform Comments

The OCC recently requested public comments on its Advanced Notice of Proposed Rulemaking (ANPR). Though issued solely by the OCC, the ANPR was widely interpreted as the first step in an Interagency effort to revise, update and modernize the regulations and guidance supporting the Community Reinvestment Act (CRA). Centrant’s position has been that CRA is…

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New Mission/Values/Vision Statement

In November, the staff of Centrant Community Capital participated in a one-day staff retreat and 2019 goal planning session. One of our tasks was to develop a concise statement of our mission, values and vision. That discussion was lively, invigorating and highly successful, and we are proud to share our results here. We believe that…

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Wakefield Commons Apartments

Thomas F. Taft, Sr., Stuart H. LeGrand and Southeast Apartment Group, LLC were the project sponsors behind Wakefield Commons Apartments, a new 80-unit multifamily development located in Raleigh, NC. This property provides a mix of two- and three-bedroom units to residents earning no more than 60% of the area median income.  Subordinate financing through the NCHFA…

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Sumner Ridge Apartments

Centrant Community Capital recently closed a $1,344,900 permanent mortgage to Sumner Ridge Development, LLC for Sumner Ridge Apartments, a new 72-unit property located in Greensboro, NC. Developed by Affordable Housing Management, Inc., a Greensboro-based nonprofit, this property offers a mix of 1, 2 and 3 bedroom units to families earning 60% or less of the area…

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Board of Directors Approved for 2018-2019 Cycle

Centrant Community Capital is guided by a 15-member board of directors. Three seats are standing positions held by the Centrant EVP, the President/CEO of the North Carolina Bankers Association and the Executive Director of the North Carolina Housing Finance Agency. The remaining 12 seats are filled by CEOs, Chief Credit Officers, lenders and CRA officers…

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Regulatory Reminder: Underwriting and Monitoring Participations

Regulatory guidance requires that banks perform their own due diligence reviews, and demonstrate an independent credit decision, when entering into third-party loan arrangements such as the participation opportunities offered by Centrant Community Capital. Recent conversations with several member banks, as well as with OCC staff in Charlotte, suggest that regulators are paying particularly close attention…

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Housing Works Conference – Register Now!

Housing Works Conference – Register Now! It’s time once again to register for the 2018 North Carolina Affordable Housing Conference, Housing Works! This year’s event will be held October 24-25 at the Raleigh Convention Center, and all Centrant members are invited to register. Join your housing colleagues from around the state at North Carolina’s premier affordable housing…

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Welcome New Members!

Centrant Community Capital is excited to announce that two new banks have joined our lending consortium! State Bank and Trust Company, based in Atlanta, is a nearly $5 billion institution with 32 offices across Georgia. First National Bank Jasper is a $250 million bank located in Jasper, Texas, approximately 100 miles northeast of Houston. These…

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Foxworth Forest Apartments

Centrant Community Capital provided a $1,810,478 permanent mortgage loan to finance the acquisition and rehabilitation of Foxworth Forest Apartments located in Newnan, GA.  This 72-unit property was completely rehabilitated with new roofs, exterior siding, windows and doors, as well as all-new interior fixtures, finishes and appliances.  The existing community building was demolished and replaced with…

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The Grove at Kendal Apartments

The Grove at Kendal is a newly-built 48-unit multifamily development located in White House, TN, approximately 20 miles north of Nashville.  In addition to federal housing tax credits, financing included a $1,217,500 Centrant permanent mortgage.  The property contains a mix of one-, two- and three-bedroom units housed in two three-story garden style apartment buildings.  The…

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Abernathy Place Apartments

Abernathy Place, a new community located in Columbia, SC, offers 64 apartments, including a mix of two-, three- and four-bedroom units for families of all sizes.  The community building houses an on-site leasing office, community room, kitchen, fitness center, computer center and laundry facility.  The property is located in close proximity to numerous retail and…

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Parkside Commons Apartments

Parkside Commons is a new 98-unit seniors development in Greenville, NC offering a mix of 38 one-bedroom and 60 two-bedroom units.  Residents enjoy spacious units, comfortable common areas, a community garden, a unique outdoor fitness equipment “playground,” as well as easy access to the area’s commercial, retail and medical facilities.  In addition to a $1,372,457…

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