Detroit’s Orchard Village Receives $900K Bridge Loan from Churchill Stateside
Churchill Stateside Group has successfully closed a $900,000 interim bridge loan to support Orchard Village, a newly developed affordable housing community located in Detroit, Michigan. The financing marks another important milestone in the company’s ongoing efforts to expand access to high-quality, income-restricted housing across the United States. Designed to serve families in need of affordable living options, Orchard Village represents a critical addition to Detroit’s housing landscape, offering 48 residential units tailored to households with varying income levels.
The interim bridge loan was issued through CSG’s affiliate, Churchill Mortgage Construction LLC (CMC), which specializes in providing flexible financing solutions for multifamily and affordable housing developments. This short-term funding is specifically structured to assist the property during its transition from the construction phase to permanent financing. In this case, the long-term financing will be secured through the HUD Section 223(f) loan program, a widely utilized federal initiative that provides mortgage insurance for the acquisition or refinancing of multifamily properties.
Orchard Village has been developed as a Low-Income Housing Tax Credit (LIHTC) community, a program that continues to play a vital role in addressing the nation’s affordable housing shortage. By leveraging LIHTC financing, the project ensures that its units remain accessible to income-qualified families while maintaining financial viability for developers and investors. As a newly constructed property, Orchard Village is currently in the stabilization phase, during which occupancy levels are increasing and operational performance is being established.
The bridge loan provided by CSG plays a crucial role in this phase by offering the liquidity needed to support ongoing operations and ensure a smooth transition to permanent, fixed-rate financing. Such interim financing solutions are particularly valuable in affordable housing developments, where timing and coordination between construction completion, lease-up, and long-term financing are essential to overall project success.
Orchard Village features a diverse mix of affordability levels, carefully structured to accommodate a broad spectrum of low- and moderate-income households. Of the 48 units available, 10 are designated for families earning up to 30 percent of the Area Median Income (AMI), while another 10 units are reserved for those earning up to 40 percent of AMI. Additionally, three units are allocated for households at 50 percent of AMI, and the largest share—24 units—is set aside for residents earning up to 60 percent of AMI. The property also includes one High HOME unit, further contributing to the community’s affordability profile.
This tiered approach to affordability ensures that Orchard Village can meet the needs of families with varying income levels, promoting inclusivity and economic diversity within the community. By offering housing options across multiple income brackets, the development helps address a broader range of housing challenges while fostering long-term community stability.
According to Dan Duda, Executive Vice President and National Director of Originations & Acquisitions at CSG, Orchard Village exemplifies the importance of interim bridge financing in the affordable housing sector. He emphasized that such financing solutions enable developers to navigate the complex transition from construction completion to permanent funding, ensuring that projects remain on track and financially secure.
Duda noted that CSG worked closely with the project’s sponsor to structure a financing solution tailored to the specific needs of Orchard Village. This collaborative approach allowed the team to deliver a flexible and efficient funding package, minimizing disruptions and supporting the property’s continued progress toward stabilization and long-term success.
Keith Gloeckl, Chief Executive Officer of CSG, also highlighted the significance of the transaction, underscoring the company’s ability to provide customized capital solutions at every stage of the development lifecycle. From initial construction financing to interim bridge loans and permanent funding, CSG’s comprehensive suite of financial services enables it to support projects from inception through completion and beyond.
Gloeckl explained that by offering interim capital, CSG helps bridge the gap between short-term construction financing and long-term mortgage solutions. This ensures a seamless progression for developers and investors, reducing financial risk and enhancing the overall viability of affordable housing projects. He added that Orchard Village reflects the company’s commitment to supporting developments that deliver meaningful social impact while maintaining strong financial performance.
The successful closing of this bridge loan further reinforces Churchill Stateside Group’s position as a leader in the affordable housing finance sector. With decades of experience and a deep understanding of the unique challenges associated with multifamily development, the firm continues to provide innovative and client-focused solutions that address the evolving needs of the market.
In addition to its financing expertise, CSG is known for its commitment to fostering strong communities through responsible investment and strategic partnerships. By supporting projects like Orchard Village, the company contributes to the creation of safe, sustainable, and affordable living environments for families across the country.
Detroit, in particular, has experienced a growing demand for affordable housing in recent years, driven by economic shifts and population changes. Developments like Orchard Village play a crucial role in meeting this demand, providing residents with access to quality housing options while supporting the city’s broader revitalization efforts.
As Orchard Village moves toward full stabilization and the transition to permanent financing, the impact of CSG’s interim bridge loan will continue to be felt. By ensuring a smooth and efficient progression through this critical phase, the financing helps set the stage for the property’s long-term success and sustainability.
Looking ahead, Churchill Stateside Group remains dedicated to expanding its role in the affordable housing sector, leveraging its expertise and resources to support projects that make a tangible difference in communities nationwide. Through strategic financing solutions and a collaborative approach, the company continues to help developers overcome challenges and deliver high-quality housing that meets the needs of diverse populations.
The Orchard Village transaction stands as a clear example of how targeted financial support can enable the successful completion and long-term viability of affordable housing developments. By bridging the gap between construction and permanent financing, CSG not only facilitates project success but also contributes to the broader goal of increasing access to affordable housing across the United States.
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