The CMFA Issues additional $2,000,000 of Tax-Exempt Financing for Cottage Village Senior Apartments
The Cottage Village Senior Apartments is a new construction project that will create 47-units of multifamily senior affordable housing with one manager unit. All units will be restricted to households earning 60% or less of AMI. The project will enable local seniors to continue to reside in the City of Manteca in a comfortable community. The form and density of the upcoming project will fit nicely into the existing community. With a relatively level site, the majority of the units will be ground level to better accommodate the seniors that will reside there. There will be energy efficient windows, energy efficient heating and cooling systems. Common areas, laundry rooms, library, exercise room and a gate and security systems. Amenities include a community room with full kitchen, exercise room, TV room, billiards room, computer room, library, ADA bathrooms, barbeque picnic areas and onsite management team. The financing of this project will result in the creation of affordable housing for 46 low-income senior households in the City of Manteca for the next 55 years.