CMFA Completed the issuance of $5,750,000 in Bonds for the Cobblestone Village Apartments
The Cobblestone Village Apartments project is the acquisition/rehabilitation of a multi-family housing development located at 360 E. Washington Avenue in Escondido, CA. The project consists of 43 restricted rental units and 1 restricted manager unit. The project has 44 three-bedroom units. The renovations will include building exterior and interior upgrades. Building exterior renovations will consist of reroofing and a fresh coat of paint. Individual apartment units will be updated with replacement of countertops and cabinetry, replacement of flooring and windows, new refrigerators, ranges, range hoods and dishwashers. Lastly, common onsite area renovations will consist of parking lot upgrades, site fencing, playground improvements and replacing/upgrading building systems as necessary. This financing will preserve 44 units of affordable housing in the City of Escondido for the next 55 years.