The CMFA Works with Insite Development to Finance Affordable Housing with Tax-Exempt Financing of $9,300,000
The Kensington Campus Apartments project is the new construction of a 51-unit affordable multi-family housing development for the chronically homeless. The project is to be located on land that is currently vacant, located at the corner of Avenue I and 32nd Street in Lancaster, California. The development will consist of 51 one-bedroom units. Rents will be restricted to households making less than 30% of AMI. The units will range in size from 500 to 965 square feet and will consist entirely of 1-bedroom units. The project will be located close to public transportation, retail marketplaces and public schools. The financing of this project will result in the creation 50 affordable apartments in the City of Lancaster for the next 55 years.