Wakeland Housing & Development Corp. Creates Affordable Housing by Using Tax-Exempt Financing Issued by the CMFA

The CMFA issued $3,690,000 in tax-exempt financing for the Vista Las Flores Apartments. The proceeds will be used to acquire/rehabilitate a 28-unit affordable housing project located at 6408 Halyard Place, Carlsbad, CA. The Project needs renovation to address certain unit, building and common area concerns. The units will be restricted to households earning 50% and 60% or less of area median income (AMI). Amenities include community room, computer lab, laundry room, courtyard/picnic area and playground. Services include after school programs, adult education classes and reading literacy skill building programs for youth and adults. This financing will preserve 27 units of affordable housing for the City of Carlsbad for another 55 years.

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