The CMFA Assists MidPen Housing Preserve Affordable Housing in the City of Campbell
Recently, the CMFA assisted MidPen Housing with the Sharmon Palms Lane Apartments project. It is an acquisition/ rehabilitation of a 60-unit affordable multifamily rental housing facility located in the Silicon Valley in Campbell, California. The project combines two existing properties, Sharmon Palms and The Palms both in need of rehabilitation. Out of the 60 units, 59 will be restricted to households with incomes no greater than 50-60% of the area median income. The financing of this project will result in the preservation of affordable for 59 apartments for an additional 55 years.