September 25, 2026
The California Statewide Communities Development Authority (CSCDA) is pleased to announce the issuance of $18,300,000 in tax-exempt and taxable affordable housing bonds for 493 Eastmoor Apartments in Daly City, California.
About the Project:
493 Eastmoor Apartments (the “Project”) is the new construction of 72 affordable housing units by The Core Companies (“Core”). CSCDA and Core partnered with Stifel and Orrick, Herrington & Sutcliffe, LLP to provide the bonds for the Project. The benefits of the Project to the City of Daly City include the following:
- 100% of the rental housing units will be rent restricted for extremely low-income and very low-income residents.
- The Project consists of studio and one-bedroom apartments.
- Units will be reserved for residents earning less than 20% to 50% of the area median income.
- The financing for the Project requires the affordability of the units 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 (CSAC) and the League of California Cities (Cal Cities). More than 530 cities, counties and special districts are program participants in CSCDA, which serves as their conduit issuer and provides access to efficiently finance eligible projects.
CSCDA has issued more than $80 billion in tax-exempt bonds to help local governments build community infrastructure, create Community Facilities Districts (CFDs), funding for more than 25,000 affordable housing units in the last 8 years, provided over 7,700 housing units now restricted for Low- and Middle-Income residents, provided Commercial and Residential Clean Energy funding, create jobs, make access available to quality healthcare and education, and more.
For more information about CSCDA please visit: www.cscda.org
For more information about The Core Companies, please visit: www.thecorecompanies.com
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