The CMFA issues $20,250,000 in Bonds to The Related Companies for the Stevenson House Apartments located in Palo Alto, California
The Stevenson House is an acquisition/rehabilitation of a senior affordable rental housing project located in the City of Palo Alto. The apartment complex was built in 1966 and is an affordable senior housing project. The project consists of 120 studio and one-bedroom apartments for people who earn at or below 50% and 60% of the area median income. The acquisition/rehabilitation of this project will continue to provide housing for 120 senior families for another 55 years.