Project Description

Colt Arms Apartments
52 Godwin Street, Paterson, NJ 07501

The Colt Arms Apartments RAD conversion executed by HVPG in December 2015 was one of the first four RAD conversion transactions in the nation.

Summer 2016 update on the renovations at Colt Arms Apartments here.


Affordable Housing Finance news discusses the importance of the crucial RAD preservation projects further in their January 2016 article.

Affordable Housing Finance also features the Colt Arms Apartments re-development in their August/September 2016 issue discussing transformative affordable housing preservation projects.

Units: 207
Total Development Costs: $ 30 MM
Total Construction: $ 10.9 MM
Rental Subsidy: Section 8/RAD
Project Type: Acquisition & Preservation
Tenant base: Family
Financing: Tax-Exempt Bonds
Equity: LIHTC