ADDRESS:
1160 East Church Ave
Fresno, CA 93706
(559) 489-0462
COUNTY: Fresno
PROJECT DESCRIPTION:
Las Palmas and Payne Development Corporation completed the construction of a 72 unit family affordable housing complex, in Fresno, California, in January 2005. This 9% tax credit development is affordable to residents that earn between 30% – 60% of the area median income.
The common area amenities consist of a large recreation building with a multi-purpose room, kitchen, computer lab and fitness center. The complex is gated and has a pool, spa, large playground and barbeque area.
Summercrest Apartments is located less than half a mile from Cecil Hinton Community Center, and is centrally located to the elementary school, middle school, and high school, as well as many preschools. The community is within walking distance of grocery stores, library, and shopping centers.
PROPERTY MGMT: WRMC
FINANCING:
Tax Credit Equity Investor: The Richman Group
Construction Lender: Bank of America
Permanent Lender: California Community Reinvestment Corporation (CCRC)
Grant: Affordable Housing Program (AHP) through the Federal Home Loan Bank of San Francisco
UNIT MIX:
48 3-bedrooms (1,007 sq. ft.)
24 4-bedrooms (1,217 sq. ft.)
100% AFFORDABLE:
7 units – 30% AMI
7 units – 40% AMI
35 units – 50% AMI
23 units – 60% AMI
RESIDENT SERVICES: More Information
