Archive for October, 2015

CMFA issues $4,350,000 in Bonds to the Danco Group of Companies for The Lodge at Eureka Apartments located in Eureka, California

Oct 28, 2015

The Lodge at Eureka Apartment project is an adaptive rehabilitation of the Eureka Downtowner Motel. The conversion of Lodge at Eureka Hotel into an affordable senior housing project will convert the existing 50-unit hotel into affordable housing apartments for seniors. Rents will be restricted to senior households with incomes no greater than 50% and 60% of the area median income.

 

CMFA issues $4,500,000 in Bonds to The Pacific Companies, Inc. for the Coalinga Senior Apartments located in Coalinga, California

Oct 15, 2015

The Coalinga Senior Apartments (also known as Valle del Sol) is a new construction project located on a 1.3-acre portion of vacant land located in Coalinga, California. The project will consist of a three-story building with 40 units, one of which is the manager’s unit. The project will target seniors earning up to 60% of area median income. This development will provide quality, affordable housing for 39 seniors living in the City of Coalinga for the next 55 years.

The CMFA issues $20,250,000 in Bonds to The Related Companies for the Stevenson House Apartments located in Palo Alto, California

Oct 8, 2015

The Stevenson House is an acquisition/rehabilitation of a senior affordable rental housing project located in the City of Palo Alto. The apartment complex was built in 1966 and is an affordable senior housing project. The project consists of 120 studio and one-bedroom apartments for people who earn at or below 50% and 60% of the area median income. The acquisition/rehabilitation of this project will continue to provide housing for 120 senior families for another 55 years.

 

The CMFA issues $10,883,139 in Bonds to C&C Development for the Springville Apartments located in Camarillo, California

Oct 2, 2015

The Springville Apartments project is a new construction project of a 60-unit affordable multi-family rental housing facility. The project will be located on 2.5 acres in the Springville Master Plan community of Camarillo, California. The project will offer 59 units restricted to households with incomes no greater than 50-60% of the area median income. The financing of this project will result in providing affordable housing for 59 families in the City of Camarillo for 55 years.

The CMFA issues $6,500,000 in Bonds to The Pacific Companies, Inc. for the Terracina Oaks II Apartments in Greenfield, California

Oct 1, 2015

The Terracina Oaks II Apartments project is a new construction project located on a 2.9-acre piece of land located in Greenfield, California. The development will consist of six residential buildings. There will be 48 units with a unit mix of 24 two-bedroom units and 24 three-bedroom units. The project will target households earning up to 60% of area median income. For the benefit and welfare of its residents, the project will share a 2,469 square foot community building with the adjacent Phase 1 of the development (Terracina Oaks Apartments). The Terracina Oaks II Apartments will provide quality, affordable housing for 47 families living in the City of Greenfield for the next 55 years.