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Five Star Bank finances revitalization of knitting mill

Five Star Bank is providing financing for a project in Perry that will convert a long-vacant manufacturing plant into the Knitting Mill Apartments, a 48-unit affordable housing development.

Warsaw-based Five Star is providing $9 million in construction loan financing and $11 million in low income housing tax credit equity to revitalize the former Perry Knitting Mill in Wyoming County. DePaul Properties, the developer, expects to finish the project in August 2019.

 

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