The CMFA Issues $13,000,000 in Tax-Exempt Bonds for the Escondido Gardens Apartments Project
The Escondido Gardens Apartments is an acquisition/rehabilitation of a 92-unit affordable housing project for Seniors. The Project needs renovation to address certain unit, building and common area concerns. The units will be restricted to households earning 60% or less of area median income (AMI). Amenities include parking with carports, gated community, community room, computer lab, and community kitchen. Services include transportation to shopping and an on-site community service director. This financing will preserve 90 units of affordable housing for the City of Escondido for 55 years.