Reno & Cavanaugh assisted this client in fully rehabilitating an obsolete 292-unit senior housing development. 73 units in the new project are owned by a nonprofit organization and funded with HUD Section 202 funds, and 127 units are owned by a limited partnership and funded by proceeds of a capital advance borrowing from Bank of America, multi-family housing bonds and low-income housing tax credits. This development won a 2005 Beacon of Light award from HUD, and the 2005 Community Life Program of the Year award from the Housing Association of Nonprofit Developers.