Celesta commences development of 416 single family homes; awards $23 million affordable housing construction contract.

Business Wire | November 16, 1994 | Copyright

WINTER PARK, Fla.--(BUSINESS WIRE)--Nov. 16, 1994--Celesta Corp. (OTC BB:CSTA) in conjunction with Celesta Financial Corp., which utilizes Low Income Housing Tax Credits (LIHT's) in the development and construction of affordable housing communities, announced Wednesday the commencement of development of 416 single family affordable homes.

Celesta has awarded the $23 million contract for the construction of the homes to Picerne Construction Co., a wholly owned subsidiary of Picerne Investment Corp., one of the nation's largest builders of affordable housing.

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