MidPen Housing Invests in Santa Cruz County
CDF recently celebrated the groundbreaking of the Schapiro Knolls project developed by MidPen Housing. Located near Watsonville, in Santa Cruz County, California, Schapiro Knolls will provide 88 apartments as well as support services such as afterschool tutoring and vocational development. CDF provided a low-income housing tax credit investment, a construction loan, and a permanent loan totaling nearly $36 million.
The project is named in honor of Erik Schapiro, a former top housing official in the county, and expected to be completed in May of 2013.
Vernon Davis and EAH Housing Announce Renewal Project
San Francisco 49ers star Vernon Davis is working with EAH Housing to make a "positive impact." That's the name of a renewal project recently announced for the family resource center of EAH's Crescent Park Apartments in Richmond. The project will renovate the facility's kitchen and computer room. The current recreation room will be transformed into an outdoor sporting space. New computers and a community-themed mural will also be included. The project was facilitated by CDF Vice President Fiona Hsu, who helped to connect EAH to Davis' charitable foundation.
Hayworth House Celebrates Grand Opening
The West Hollywood Community Housing Corporation recently celebrated the Grand Opening of Hayworth House, a green renovation of a formerly abandoned 1950s apartment building. The project includes 47 affordable apartments for seniors that incorporate a variety of sustainable features, including low-flow plumbing fixtures and recycled decking. The CDF group provided $15.8 million in loans and tax credit equity for the renovation, and sponsored its Grand Opening celebration.
Vista Grande Named Rehab of the Year
Vista Grande Apartments, a family affordable housing development in southeast San Diego, won the 2012 Ruby Award for Rehabilitation Project of the Year given by the San Diego Housing Federation. Developed by Wakeland Housing & Development Corporation, Vista Grande features 49 units as well as extensive support services for residents. The CDF group provided financing for the development, which celebrated its Grand Re-Opening in 2011.
Fair Oaks Plaza Named Award Finalist
Fair Oaks Plaza, a low-income senior
complex in Sunnyvale, California, has
been named a 2012 Readers' Choice
Award Finalist by Affordable Housing
Finance magazine for Best Seniors
development in the United States.
Developed by MidPen Housing, Fair
Oaks Plaza offers 124 affordable
apartments next to a new Santa Clara
County health clinic.
In an innovative financing arrangement, CDF teamed with Google to provide tax credit investments for the project, located less than 10 miles from Google's headquarters. Fair Oaks Plaza opened in 2011.
CDF Head Among San Francisco's "Most Influential"
Annette Billingsley, CDF Senior Vice President and division head, was named one of the Bay Area's "Most Influential Women in Bay Area Business" of 2012 by the San Francisco Business Times. The annual list honors women in the region doing the most to shape Bay Area companies and communities.