Wesley Hall Apartments - Peekskill, NY
Omni acquired the property in December 2008 with financing provided by the New York State Housing Finance Agency (HFA) in the form of tax exempt bonds, low income housing tax credits and secondary financing. The New York State Department of Housing and Community Renewal (HCR) also provided a Housing Trust Fund Loan. The New York State Energy Research and Development Authority (NYSERDA) awarded grand funding to complete energy efficient measures. Upon acquisition it underwent a 236 decoupling, whereby all existing tenants on the day of acquisition received enhanced section 8 vouchers.
A $3.8 million rehabilitation of the property was completed in 2009.