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| Funded Projects |
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| Los Vecinos |
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| Location: |
Chula Vista, California |
Type:
| one-, two- and three-bedroom apartments that are built around a 1,500-sq. foot community center. Los Vecinos utilizes solar power to provide nearly all of its own electricity, saving residents at least 75% on electric bills. |
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| Development Team: |
U.S. Green Building Council (USGBC) |
| Lending Team: |
CCRC, Red Capital Markets, Inc., Wells Fargo Bank, City of Chula Vista Redevelopment Agency, California Tax Credit Allocation Committee and California Energy Commission/New Solar Homes Partnership |
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| Petaluma Avenue |
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| Location: |
Sebastopol, California |
Type:
| This affordable housing complex made up of one-, two- and three-bedroom apartments for households earning 30%-60% of the median area income. |
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| Development Team: |
Affordable Housing Associates (AHA) |
| Lending Team: |
CRC, the City of Sebastopol Community Development Agency, Sonoma County Community Development Commission, Silicon Valley Bank, Hudson Housing Capital, Enterprise Valley Green Communities Fund and Federal Home Loan Bank and Silicon Valley Bank. |
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| Los Vientos |
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| Location: |
San Diego, California |
Type:
| Two Spanish-style residential buildings consisting of 89 two-, three- and four-bedroom |
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| Development Team: |
Austin Veum Robbins Partners |
| Lending Team: |
CCRC provided permanent financing for the project along with U.S. Bank Community Lending, Hudson Housing Capital, California Tax Credit Allocation Committee, Federal Home Loan Bank of San Francisco and the City of San Diego Redevelopment Agency |
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| The Hobart |
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| Location: |
Los Angeles, California |
Type:
| 49-unit apartment complex for low-income families |
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| Development Team: |
Representatives from the Community Redevelopment Agency of the City of Los Angeles (CRA/LA), the Los Angeles Housing Department and City Councilmember Herb Wesson joined American Communities, LLC, in addressing the new residents who have already filled all 49 units. |
| Lending Team: |
The complex, costing $16.9 million to build, received funding that included a $2.4 million permanent loan from CCRC, a $1.2 million loan from CRA/LA, a $3.7 million loan from the Los Angeles Housing Department and a tax equity credit of $10.5 million. |
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| Metro Loma Apartments |
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| Location: |
Glendale, California |
Type:
| 44 unit apartment community |
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| Development Team: |
Squier and Advanced Development Investments, LLC (SADI,LLC) |
| Lending Team: |
CCRC extended a $2 million permanent loan to this second Glendale Family project, developed by SADI and the City of Glendale. Red Capital was the tax credit investor and Hamni Bank provided the construction loan. The City of Glendale funded an additional $5 million, as well |
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| Cottonwood Creek |
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| Location: |
Suisun City, California |
Type:
| 94-unit family property. |
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| Development Team: |
BRIDGE Housing |
| Lending Team: |
The Construction lender on this one, two, and three bedroom development was Silicon Valley Bank, with Union Bank providing the tax credit investment. This site was the focus of the Suisun City's redevelopment efforts to restore the historical waterfront and downtown shopping area. The state of California provided an additional $7 million financing, with the city's redevelopment funds totaling $7.5 million. |
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| Villas del Lago |
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| Location: |
Los Angeles, California |
Type:
| 74 affordable homes to very deserving families. |
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| Development Team: |
AMCAL |
| Lending Team: |
Construction lending was provided by WaMu/Chase and tax credit equity was provided by Sun America. This development also received %5.2 million in housing trust fund awards from the City of Los Angeles Housing Department and a grant from the Federal Home Loan Bank. AMCAL and W.O.R.K.S. collaborated on this project. |
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| Paulson Park |
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| Location: |
Mountain View, California |
Type:
| 149 units of senior housing and the new construction of an additional 104 units of senior housing all over eight acres of tree-covered land. |
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| Development Team: |
Mid-Peninsula Housing Coalition |
| Lending Team: |
CCRC provided a $12.7 million permanent loan on this creative project, with Wells Fargo as the construction lender and Aegon USA Realty Advisors as the investor of the entire project. |
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| Tyrol Plaza |
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| Location: |
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Type:
| 60 Units of Rental Housing for Seniors with Special Needs |
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| Development Team: |
A Community of Friends, Anaheim Supportive Housing for Senior Adults and The Enterprise Social Investment Corporation |
| Lending Team: |
CCRC Permanent Loans of $825,000 and $780,000; Bank of America Construction Loan, City of Anaheim, First Republic Bank, ASHSA |
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| St. Stephens Senior Apartments |
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| Location: |
San Diego, California |
Type:
| 50 Units of Senior Rental Housing |
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| Development Team: |
Related Companies of California, St. Stephens Retirement Center, Inc., Related Corporate Partners XXV |
| Lending Team: |
CCRC Permanent Loan for $1.7 million, Wells Fargo Bank Construction Loan, San Diego Housing Commission |
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| Suncrest Apartments |
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| Location: |
Barstow, California |
Type:
| 81 Units of Family Rental Housing |
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| Development Team: |
Simpson Housing Solutions, LLC, Decro Corporation, Multi-Housing Tax Credit Partners XXXVI |
| Lending Team: |
CCRC Permanent Loan for $2.4 million; PNC Bank Construction Loan, Redevelopment Agency of the City of Barstow |
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| Downtown River Apartments |
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| Location: |
Downtown Petaluma, California |
Type:
| 81 units of Family Rental Housing and 5,000 square feet of Commercial Space |
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| Development Team: |
Eden Housing, Inc., Union Bank of California |
| Lending Team: |
CCRC Permanent Bond for $6.2 million; Wells Fargo Bank Construction Loan, City of Petaluma, California Department of HCD, Metropolitan Transportation Commission |
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| CCRC in the News |
| CCRC in Back-to-School Spirit with 18 Scholarship Winners - From as far north as Redding where one student will be attending Shasta college, to the East Coast MIT destination of a Yale Terrace resident, back to UC Berkeley where a Broadway Village I resident will attend this year, CCRC salutes the dedication and commitment of 18 accomplished students from affordable housing projects throughout California, as they to continue their education and live the American dream of being a college student! |
| CCRC Celebrates 20 Years of Excellence - On October 1 of 2009, CCRC celebrated its 20th anniversary! CCRC celebrated at the beautiful Woodbury Walk Apartments in Irvine, along with nearly 60 member banks, developers and management companies. Woodbury Walk Apartments, a 150-unit multifamily housing property, was developed by Bridge Housing and one of our funded properties. |
| CCRC Receives 2009 Housing Hall of Fame Award - The Board of Directors of the California Housing Consortium has recognized CCRC with a 2009 Housing Hall of Fame Award. CCRC was chosen for its powerful combination of services, products and technical assistance in the Community Development Lender category. Thanks California Housing Consortium! |
| CCRC Attends Re-Opening of Country Club Apartments - CCRC is thrilled to announce the grand re-opening of Country Club Apartments. The event took place Thursday, July 9, 2009, to re-introduce 90 completely rehabilitated studio, one-bedroom and two-bedroom units back to the Oceanside community. |
| Golden Nugget Award Announcement - CCRC is thrilled to announce that Cottonwood Creek, a project we provided with permanent financing, won the prestigious Golden Nugget Award for excellence in design and architecture! |
| SCANPH Panel - The Southern California Association of Nonprofit Housing (SCANPH) held their annual conference on September 25, and CCRC President, Mary Kaiser, acted as moderator for one of their panels, “Then and Now – The New Norm in Financing.” This panel was an opportunity for key lenders and equity investors to share candid comments with the development community about what it takes to get a transaction done in the current environment. |
| Mental Health America - CCRC was proud to be a part of the grand opening for the Mental Health America (MHA) of Los Angeles’s new Antelope Valley Enrichment Services (AVES) that took place on May 15. This new Antelope Valley facility provides enrichment and rehabilitation services for members of the community with mental illness, in addition to adjacent housing.
MHA is a private, non-profit charitable organization that has served the Antelope Valley since 1988 and offers a full spectrum of services to the mentally ill, including those who are homeless. |
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