Continental Mortgage Corp. provides construction loans that
bridge the timing of permanent financing sources until they are available upon the completion of construction. By arranging bridge and construction financing. Continental acts on behalf of the owner and has the wherewithal to refinance, restructure, originate new debt, as well as to acquire properties. Continental also serves as a construction lender, loan processor and loan servicer.
Lincoln Towers offers affordable housing to seniors age 62 and older, as well as a new home to the Wilmington Fire Department’s Station #5. Featuring 80 one-bedroom and eight two-bedroom apartments, all of which will be adaptable for residents with disabilities, the new community offers on-site undergroundparking, laundry facilities on each floor, a fitness center, a computer lab, and expansive community space for supportive and social services. The recipient of stimulus funding in 2009 after the Wilmington Housing Authority and its development partner Michaels Development Company secured a competitive grant from the U.S. Department of Housing and Urban Development, the $30 million Lincoln Towers development is designed with high energy-efficiency systems and materials, making it one of the premier “green” buildings in the City of Wilmington.