Apply online!

CSCDA Issues $27,791,620 in Tax-Exempt Bonds for Parks at Fig Garden Apartments


December 16, 2016

The California Statewide Communities Development Authority (CSCDA) is pleased to announce the issuance of $27,791,620 in tax-exempt multifamily affordable housing bonds for Parks at Fig Garden Apartments in Fresno, California.
 
About Parks at Fig Garden Apartments:
 
Parks at Fig Garden Apartments is an acquisition and rehabilitation of 366 multifamily affordable housing apartments by Fruit Avenue Housing Associates, LP.  The project sponsor is Community HousingWorks.  Parks at Fig Garden will continue to be 100% affordable and provide 75 one-bedroom, 229 two-bedroom, and 57 three-bedroom apartments to low-income families in Fresno, California.

About the Financing:

CSCDA and Community HousingWorks partnered with Jones Lang LaSalle Multifamily, LLC to provide tax-exempt multifamily affordable housing bonds for Parks at Fig Garden.  The rehabilitation will include extensive exterior and interior renovations which include energy and water efficiency upgrades.  The financing of Northwest Manors II will maintain the affordability of units for low-income tenants for 55 years.    
 
About Community HousingWorks:
 
Community HousingWorks is a nationally-recognized nonprofit that builds, acquires and owns quality affordable apartments and provides wraparound services that help lower income residents improve their lives and move up in the world. For almost 30 years, CHW has harnessed innovation and staff expertise to build and own beautiful affordable apartment communities with a focus on cost effective, sustainable, and energy efficient designs.  CHW has completed and owns 35 rental communities with almost 3,000 apartments located in San Diego County and throughout California. 
 
For more information about Community HousingWorks, please visit:
www.chworks.org

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 $57 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

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