The CMFA Completed the issuance of $5,447,403 in Bonds for Many Mansions

During 1986-87, Many Mansions embarked upon its first development project. Many Mansions, along with the City of Thousand Oaks and the Conejo Future Foundation, developed Schillo Gardens. Financed through the federal tax credit program and with assistance from the City of Thousand Oaks, Schillo Gardens housed individuals and families who were low-income and whose rent would be set accordingly. Many Mansions has continued to grow its portfolio and develop affordable housing.

This bond financing will enable Many Mansions to acquire and rehabilitate the Schillo Gardens Apartments affordable multifamily rental housing facility. The project consists of 7 one-bedroom, 16 two-bedroom and 6 three-bedroom units. Many Mansions is purchasing the Schillo Gardens Apartments from the City of Thousand Oaks. Upon purchase, a significant rehabilitation will take place to address replacement of major building systems, increase energy & water efficiency and improve the individual units. Rents will be restricted to households with incomes no greater than 50% and 60% of the area median income. This project is located at 2825-2861 Los Robles Road, Thousand Oaks, California.

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