The CMFA issues $9,638,975 in Tax-Exempt Financing for the Mission Court Senior Apartments Project to assist Fremont’s Low Income Residents

The Mission Court Senior Apartments is a 90-unit residential development for very low and extremely low income seniors located in the Warm Springs/South Fremont area of Fremont, CA. The project is located on a 2.25-acre site on the corner of Warren Avenue and Mission Falls Court and represents the inclusionary component of a broader master-planned community which will include approximately 500 units of senior residential housing and other senior focused amenities such as senior community center.

The affordable housing community will serve seniors who earn between 30% and 50% of the Area Median Income (AMI). The project features 89 one- and two-bedroom units for seniors and 1 two-bedroom resident manager’s unit. 44 of the units will be financed using 4% bond financing and the remaining 46 units will be financed using 9% financing. This financing will create 43 units of affordable housing for the City of Freemont for 55 years.

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