Eden Housing Preserves Affordable Housing by Using Tax-Exempt Financing Issued by the CMFA

The Corona Ranch and Washington Creek Apartments are an acquisition/ rehabilitation of existing affordable housing multifamily tax credit projects. The two projects will be combined into one scattered-site bond and tax credit project. The project will include: 1) a 32-unit multifamily residential rental facility commonly known as Washington Creek Apartments located at 909 Martin Circle in the City of Petaluma, California and 2) a 74-unit multi-family residential rental facility commonly known as Corona Ranch Apartments located at 990 Ely Road in the City of Petaluma, County of Sonoma The projects are in need of substantial rehabilitation with the scope of renovations including unit interior rehabilitation, including new carpet and flooring, new cabinets and countertops, as well as new appliances. Renovations will also be done to the common areas and building exterior with an emphasis on making the project more energy efficient and efforts for water conservation. This financing will preserve 106 units of affordable housing for the City of Petaluma for another 55 years.

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