Archive for November, 2016
Nov 9, 2016
The Liberty at Aliso Apartments is a new construction 200-unit affordable multi-family housing development. The project will consist of a four-story building with an elevator and podium parking. There will be courtyards, green area and a swimming pool for the residents. The main entrance to the building off of Liberty features a 3,450 SF community center with a leasing and management office, activity area, full kitchen, computer lab, laundry facilities, mail room, pet washing, and restroom facilities. The project will accommodate families with unit sizes of one- and two-bedrooms located at 4 Liberty, Aliso Viejo, CA. This financing will create 198 units of affordable housing for the City of Aliso Viejo for 55 years.
Nov 4, 2016
The Mission Village Apartments is an acquisition rehabilitation of an 84-unit, affordable multi-family housing development. Barker Management, Inc., plans to rehabilitate the project consisting of one building of senior-restricted units, five buildings containing family units and 106 surface parking spaces. The 84 units (34 senior-restricted one-bedroom units, 6 two-bedroom family units and 43 three-bedroom family units) will all be restricted to households making no more than 50% and 60% of Area Median Income with the exception of one unit that will be used as the manager’s units. The project is located at 4001 N. Mission Road, Los Angeles, California. This financing will continue to preserve 83 units of affordable housing in the City of Los Angeles for the next 55 years.
Nov 3, 2016
The CMFA issues $4,055,000 in tax-exempt bond proceeds for Hill Country Community Clinic. The proceeds will be used for the purposes of: (i) refinancing 2008 bonds, which bonds financed acquisition, construction and equipping of a training facility for disabled and disadvantaged persons and a retail store owned by the Borrower and located at 1550 41st Avenue, Capitola, California, (ii) financing costs of acquisition, renovation and equipping of an approximately 98,000 square foot building to be owned by the Borrower and located at 1566 Moffett Street in Salinas, California, within Monterey County, California, to house the Borrower’s administrative headquarters as well as serve as its primary hub for material handling, bulk sales, processing and distribution
Nov 2, 2016
The $13,255,000 bond proceeds will be used to finance the Quarry Creek Apartments. Quarry Creek is the new construction of a 64-unit, large family affordable housing development consisting of five 2-story and three 3-story walkup buildings. The development will be made up of one-, two- and three-bedroom units. Units will be restricted to 50% and 60% AMI, with one market rate unit set aside as a manager’s unit. The project is also designed with an indoor community area, with community room, kitchen, computer room, leasing offices and outdoor patio area.
This is an inclusionary affordable housing project in the new Quarry Creek master planned community that is being developed by Cornerstone Communities within the City of Carlsbad, California. This financing will create 63 units of affordable housing for the City of Carlsbad for 55 years.
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