CMFA Issues Financing for Affordable Housing Rehabilitation
The Life’s Garden Apartments project is an acquisition/rehabilitation of a 208-unit affordable senior housing development. The retirement community offers studio and one-bedroom apartments with approximately 450-550 square feet per apartment. Life’s Garden has an on-site service coordinator with access to a variety of classes/ services on health and safety. The property has a 22 passenger bus for social outings and events. 195 of the units will be restricted to 50% and 60% of Area Median Income. There will be 11 market rate units and 2 manager’s units. The project is located at 450 Old San Francisco Road, Sunnyvale, CA 94086. This financing will continue to provide 195 units of affordable housing for the City of Sunnyvale for the next 55 years.