Apply online!

CSCDA Issues $74,000,000 in Tax-Exempt Bonds for Brunswick Street Apartments


August 10, 2017

The California Statewide Communities Development Authority (CSCDA) is pleased to announce the issuance of $74,000,000 in tax-exempt multi-family affordable housing bonds for Brunswick Street Apartments in Daly City, California.

About Brunswick Street Apartments:

Brunswick Street Apartments (the “Project”) is the new construction of 206 affordable housing units by The Pacific Companies.  The benefits of the Project for Daly City and San Mateo County include the following:
 
  • 100% of the affordable rental housing units will be rent restricted for low-income senior tenants.
  • The Project consists of 204 studio apartments and two manager’s units.
  • The Project is in close proximity to recreational facilities, parks, grocery stores and other shopping facilities. 
 
About the Financing:

CSCDA and The Pacific Companies partnered with Citibank and Orrick, Herrington & Sutcliffe, LLP to provide $74,000,000 in tax-exempt multi-family affordable housing bonds for the Project.  The financing for the Project requires the affordability of units for low-income senior tenants to be maintained for 55 years.
 
About CSCDA:
 
CSCDA is a joint powers authority created in 1988 and is sponsored by the California State Association of Counties and the League of California Cities.  More than 500 cities, counties and special districts are program participants in CSCDA, which serves as their conduit issuer and provides access to efficiently finance locally-approved projects.  CSCDA has issued more than $58 billion in tax exempt bonds for projects that provide a public benefit by creating jobs, affordable housing, healthcare, infrastructure, schools and other fundamental services.
 
For more information about CSCDA, please visit:
www.cscda.org
 
For more information about The Pacific Companies, please visit: www.tpchousing.com
 
CLICK HERE to download a PDF version of this announcement

 
  <- Back to: News

FOUNDED AND SPONSORED BY
California State Association of Counties   League of California Cities