Affordable Housing to Soon Be Part of Fort Ord Development
The CMFA recently closed a $17.1 million financing for non-profit developer South County Housing Corporation. Proceeds from the tax-exempt bonds will be used to construct a new 107 unit affordable housing project known as University Village. It will be located on the former Fort Ord Army base and is an integral part of a master planned community in the city of Marina. Families with incomes at or below 50% Area Median Income will enjoy a high quality of life with easy access to shopping, theatres, parks and other community services. The complex will offer residents after school programs for the children and educational classes in health, wellness and skill building for adults.