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CSCDA Issues $33,930,907 in Tax-Exempt Bonds for Sun Ridge Apartments


August 31, 2017

The California Statewide Communities Development Authority (CSCDA) is pleased to announce the issuance of $33,930,907 in tax-exempt multifamily affordable housing bonds for Sun Ridge Apartments in Concord, California.
 
About Sun Ridge Apartments:
 
Sun Ridge Apartments is an acquisition and rehabilitation of 198 multifamily affordable housing apartments by Monument Boulevard Housing Associates, LP.  The project sponsor is Community HousingWorks.  Sun Ridge will continue to be 100% affordable and provide 84 one-bedroom, 98 two-bedroom, and 14 three-bedroom apartments to low-income families in Concord, California.
 
About the Financing:

CSCDA and Community HousingWorks partnered with Jones Lang LaSalle Multifamily, LLC to provide tax-exempt multifamily affordable housing bonds for Sun Ridge.  The rehabilitation will include extensive exterior and interior renovations which include energy and water efficiency upgrades.  The financing of Sun Ridge 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 $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

CLICK HERE to download a PDF version of this announcement

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