CMFA Completed the issuance of $15,259,000 in Bonds for City Center Plaza Apartments
MidPen Housing Corporation is one of the nation’s leading non-profit developers, owners and managers of high-quality affordable housing. MidPen has developed over 100 communities and 6,600 homes for low-income families, seniors and special needs individuals throughout Northern California over the last 40 years.
This bond financing enabled MidPen to rehabilitate an 80-unit affordable multi-family housing development. City Center Plaza was developed in 1997 with low-income tax credits. The project is arranged in six separate buildings. One-hundred percent of the units will be restricted to households making no more than 50% and 60% of Area Median Income. In order to preserve City Center Plaza, critical building needs must be addressed in a comprehensive renovation. The project is located at 950 Main Street, Redwood City, California. This financing will continue to preserve 80 units of affordable housing in Redwood City for the next 55 years.