Mercy Housing CA Partners with the CMFA on Saint Mary Tower Apartments
The CMFA issued $32,726,000 in tax-exempt bonds for the Saint Mary Tower Apartments project. The Saint Mary Tower Apartments is an acquisition/ rehabilitation of an existing 148-unit senior housing building located in Long Beach, CA. The project was originally constructed in 1986. The Project, consisting of a single 13 story building and 70 interior parking spaces, houses 146 tenant units (37 studio units and 109 one-bedroom units). Unit amenities include central heat/AC, carpeting, refrigerator, stove/oven and garbage disposal. Community amenities include a fitness center, community room, clubhouse and laundry facility. Renovations will include painting; landscaping; new windows, plumbing fixtures, parking lot pole light heads and Energy Star interior light fixtures and upgrades to the fire protection system, plumbing systems, electrical systems, office, community room, lobby, and elevator equipment room. The financing of this project will result in the preservation of 146 senior affordable apartments for the next 55 years in the City of Long Beach.