The CMFA issues $7,000,000 in Bonds to the Cabrillo Economic Development Corporation for the Camino Esperanza Apartments located in Simi Valley, California
The Camino Esperanza Apartments is a new construction project of a 31-unit affordable multifamily rental housing facility located in Simi Valley, California. The vacant, undeveloped 2.61-acre site will have six single-story buildings of five one-bedroom apartments plus a separate building for the two-bedroom manager’s unit. Also included is a 1,324 sq. ft. community building for the tenants to gather, hold meetings and socialize using the kitchenette. The project will cater to adults with developmental disabilities. The units are restricted to households making 50% or less of area median income. The financing of this project will result in the creation of 31 affordable apartments for the next 55 years.