Native American Bank and Lumbee Tribe of North Carolina partners to construct Pembroke Senior Village
Native American Bank / 2014
The Lumbee Tribe of North Carolina approached Native American Bank for a commercial loan to build fifty housing units with options of one or two-bedroom units to meet a high demand for elderly housing. The loan was underwritten and approved with a BIA Loan Guarantee Program. Pembroke Senior Village is scheduled to be completed in the summer of 2015. The rental units will be exclusively for elders over 55 years of age and tenants must be able to meet income guideline requirements. Once completed, the tribal elders will also be able to enjoy a community room, exercise room, computer center, covered picnic area, gazebo and outdoor seating areas. The Village is also conveniently located near a shopping center, pharmacy, grocery store and a recreation complex.