CMFA Completed the issuance of $21,450,000 in Bonds for Park Paseo Apartments
The Park Paseo Apartments is a 96-unit Acquisition/Rehabilitation affordable senior development with two manager units located in the City of Glendale, California. The project is currently financed with a HUD 202 Loan. The project is an 8 story reinforced concrete structure constructed in 1979. The project provides housing and support services to individuals 62 years of age and older with income at or below 60% of area median income. All of the units include project based Section 8 rental assistance. The project will continue to provide safe, clean affordable housing for another 55 years to senior citizens. The tenants will enjoy a financial and money management, health, wellness and care placement classes. There will also be community rooms, laundry facilities and elevators.