The CMFA issues $9,571,706 in Bonds to Many Mansions for the Villa Garcia Apartments located in Thousand Oaks, California
The Villa Garcia Apartment project is an acquisition/rehabilitation of an existing 80-unit affordable multifamily rental housing facility. The project, built in 1998, is a two-story garden style building. The property has 40 one-bedroom, 20 two-bedroom and 20 three-bedroom townhouses. The project will include substantial rehabilitation to address replacement of major building systems and to increase energy and water efficiency. Rents will be restricted to households with incomes no greater than 60% of the area median income.