Winn Cos Secures $137M Rehabilitation Loan For Pines Of Perinton Multifamily Property In Fairport

The Pines of Perinton, a 508-unit multifamily community located at 1 White Pine Circle in Fairport, N.Y., is set to undergo a $137 million rehabilitation project. Led by Winn Cos., the project aims to revitalize the community by upgrading all units and introducing new amenities. The rehabilitation project has been in development since 2019 and is expected to commence later this year. Completion of the project is anticipated by the fall of 2025. With financing secured through revenue bonds, subsidy loans, and Winn Cos.'s contribution, the Pines of Perinton will continue to provide affordable housing in the area for the foreseeable future.

Summary of transation details

• Property Type: Multifamily
• Transaction Amount: $137,000,000
• Units: 508
• Acres: 42.6
• Address: 1 White Pine Circle
• Market: Fairport

Winn Cos. is at the forefront of promoting affordable housing in Fairport. Through their efforts and the collaboration with the New York State Housing Finance Agency, they have spearheaded the rehabilitation project at the Pines of Perinton. This project demonstrates their commitment to providing high-quality housing options for the community and ensuring that affordable housing remains available for years to come.