PROJECTS IN DEVELOPMENT

CASA DEL SOL MOBILE HOME PARK
709 East Street, Woodland, CA  95776
(530) 406-1584
msalo@chochousing.org 

Purchase of the mobile home parks, formerly known as the Dana and Woodland Mobile Home Parks, represent CHOC's first mobile home park development.  This $12 million acquisition and rehabilitation project houses 156 families, most of whom have lived at the park for at least 10 years.  To help finance this project, the City of Woodland is providing $1.3 million in acquisition financing including a $1 million loan from CalHFA's HELP program.  CHOC has been awarded a $200,000 grant from HCD's CalHOME program to assist residents in acquiring new replacement mobile homes.  CHOC has also been awarded $1 million from the City of Woodland CDBG entitlement (Section 108),  HCD's MPROP and Joe Serna Farmworker Housing Grant funds, Federal Home Loan Bank's Affordable Housing Program funds, and a Rural Community Assistance Corporation's (RCAC) Agricultural Worker Health and Housing Program grant to improve park infrastructure and develop a 5,000 square foot community facility on-site.  Red Mortgage Capital will provide over $3 million in construction and permanent financing, which will be guaranteed by the HUD 207(m) program.  The S.H. Cowell Foundation has committed capital grant as gap financing for the AHP and community building project.   Construction of the new park infrastructure is scheduled to start in summer, 2006.

ACACIA MEADOWS
7735 Stockton Boulevard
Sacramento, CA 95823
(916) 525-3600  
rharnden@chochousing.org 

This 9.6 acre site in South Sacramento, zoned at 30 DUA, was donated to CHOC by Washington Federal Savings Bank.  A total of 210 units of affordable housing are planned for the site in three phases:  a 140-unit family rental project, a 22-unit single family ownership development and a 48-unit senior rental project.  CHOC received an award of $5.6 Million from HCD's MHP program in December 2003.  Construction began in September 2004.  Initial occupancy of the 140 rental units started in May 2006.

To apply for rental housing at Acacia Meadows or to ask about availability, go to or call the Acacia Meadows Office, Monday through Friday between 9:00am and 5:00pm. 

For information about the home ownership program, please contact Mercy Housing at (916) 414-4464. 

Development has not yet begun on the senior housing project.  At this time there is no available information.

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PROPOSED PROJECTS

WINTERS II 
Winters, CA 

Winters II, on Baker street in the City of Winters will complement CHOC's existing 44-unit Winters Apartments, located at 116 East Baker Street.  Winters II will provide 34 units of affordable multi-family rental housing.  An on-site community center will host programs and services coordinated by CHOC's Resident Services Program.  The City of Winters has acquired the site on CHOC's behalf.  Winters II is scheduled for construction start in Summer 2006.  The Low Income Investment Fund is providing pre-development funding.  Wells Fargo Bank will provide construction financing.  The city of Winters has awarded $1.6 million in Community Development funds plus a $2.8 million HOME award.  Contact Paul Ainger painger@chochousing.org for development information. 
NO interest list is being maintained at this time.

ARIKA'S VILLAGE (Paratransit) 
Sacramento, CA 

CHOC is partnering with Paratransit of Sacramento in a joint venture to develop 60 units of affordable housing, a day care center and ground-floor retail/commercial space on a 2 acre site owned by Paratransit at the corner of Woodbine and Florin Roads.  The project is currently in the planning process.  Mogavero Notestine Associates is the project architect.  Design features will emphasize energy efficient "green building" elements.  Construction start is anticipated in Fall 2005.  The Low Income Investment Fund and Enterprise Community Loan Fund are providing critical pre-development funding.  Arika's Villagae has been selected as a Green Communities Initiative project by Enterprise Foundation.  Contact Paul Ainger painger@chochousing.org for development information.  
We are NOT maintaining an interest list at this time.   

MACE RANCH LAND TRUST 
Davis, CA 

CHOC has been selected by the City of Davis to develop a site on 5th Street in the Mace Ranch subdivision as Davis' first community land trust home ownership development.  22 homes will be developed on this 2 acre site.  The land trust will retain ownership of the land as a means of retaining long-term affordability for the single-family homes that will ultimately be built on this land dedication site.  Contact Paul Ainger painger@chochousing.org for development information.  
Please contact Alberto Marin at (530) 757-4444 ext 237 or e-mail  amarin@chochousing.org to be placed on the interest list.

FOLSOM 
Folsom, CA 

The City of Folsom has selected CHOC to develop an affordable housing project on a 4.5 acre site on Sibley Street near Blue Ravine Road.  CHOC will develop a 100% affordable 85-unit multi-family rental project available to very low income households.  The entitlement process has begun.  This project is scheduled for construction start in 2007.  The City of Folsom Redevelopment Agency is providing pre-development funding for the project.   This is proposed as a 9% tax credit project.  Contact Paul Ainger painger@chochousing.org for development information. 

MURPHY COMMONS 
Chico, CA 

A joint venture between CHIP and CHOC.

  MULTI-FAMILY HOUSING

ACQUISITION AND REHAB PROJECTS

HOTEL WOODLAND
436 Main Street, Woodland, CA  95695
(530) 661-6944
mturk@chochousing.org 

CHOC and Engstrom Hotel Corporation (EHC) restored the historic Hotel Woodland, located in Woodland’s downtown business district. The hotel consists of four floors. After restoration was completed, the first floor was leased by Engstrom as commercial space. The upper three floors (owned by a CHOC affiliate) provide 76 single-room-occupancy (SRO) residential units. CHOC and EHC’s goals in refurbishing the hotel were to provide 1) safe and permanently affordable housing to very-low income residents of the community, 2) provide high-quality commercial space to local merchants, and 3) serve as a catalyst in revitalizing the entire downtown business district. Restoration commenced in the fall of 1995 and was completed in July, 1996. Hotel Woodland Apartments house residents at or below 40% of the Yolo County area median income. The Hotel Woodland has been awarded the California Preservation Foundation Design Award (1997) and the Governor’s Historic Preservation Award (1997).


HALLMARK APARTMENTS
2852 Paseo Rio Way, Sacramento, CA 95827
(916) 363-7060
lhellyer@chochousing.org   

Located in Sacramento, Hallmark was purchased in November 1994, with plans for a substantial rehabilitation of the exterior and interior renovations. Hallmark’s 100 units back up to luxury homes on the river near Goethe Park. A short walk to the local library, light rail and major shopping, Hallmark offers spacious two bedroom units with a courtyard pool, children’s active play areas and laundry facilities. Interim financing was provided by US Bank. Project rehabilitation was financed by an equity contribution from CHOC and a loan from Sacramento Housing and Redevelopment Agency. SHRA-issued tax-exempt bonds, purchased by Bank of America and insured by HUD, provide the primary permanent financing. The permanent financing assures affordability to families between 50% and 80% of area median income.


OLYMPIC COTTAGES
1707 Olympic Drive, Davis, CA  95616
(530) 757-4440
creese@chochousing.org  

Olympic Cottages is a 30-unit senior condominium community located in West Davis in the Aspen neighborhood. In 1995, CHOC purchased 12 of the condominium units to rent to qualified seniors who are at or below 80% of Yolo County’s median income. CHOC owns 11 one-bedroom units and one two-bedroom unit. The site sits adjacent to the neighborhood’s central greenbelt. The single story units are clustered in groupings of 5 and 6 attached units. All units have front porches and carports. Each unit has a washer and dryer. A community room offers an indoor common area and a gazebo offers an outdoor gathering place. Benches are sited throughout the inner greenbelt. In 1999, Yolo County Housing Authority issued tax-exempt bonds purchased by BACDB making the units affordable below 60% of area median income.


STERLING COURT
803, 805, 807, 809 10th Street, Davis, CA 95616
(530) 757-4440
creese@chochousing.org 

Located close to downtown Davis, the four-plex was purchased in July, 1993. An extensive rehabilitation was completed with a fresh face-lift on the exterior including installation of garage doors in the car port areas. New carpet, interior fixtures, painting and new appliances enhanced the appeal of Sterling Court. Initially financed with conventional bank loans and the City of Davis’ Housing Trust Funds, Sterling Court offered two bedroom units affordable to residents at or below 80% of Yolo County median income. A subsequent refunding through the private placement with BACDB of tax-exempt bonds issued by Yolo County Housing Authority will ensure affordability to residents below 60% of median income.


ROSA PARKS TOWNHOUSES
1205 Fifth Street, Davis, CA 95616
(530) 757-4439
dbrowning@chochousing.org 

In June of 1990, Davis community Housing (now CHOC) purchased a ten-unit complex located in the core area of Davis. The complex underwent a substantial face-lift. The acquisition/rehabilitation was financed by low-interest loans from the State Department of Housing and Community Development, the California Housing Finance Agency and a 0% interest loan from the City of Davis’ Housing Trust Fund. Each of the two-bedroom/one bath townhouse units offers affordable housing to families whose incomes are between 50% and 60% of Yolo County’s median income.


SOJOURNER TRUTH GARDENS
1220 Fifth Street, Davis, CA 95616
(530) 757-4439
dbrowning@chochousing.org 

In December of 1988, Davis Community Housing (now CHOC) purchased this fourteen-unit complex located in the core area of Davis. Throughout the next year significant rehabilitation work was completed on the complex. A new pitched roof was constructed along with the addition of a children’s play area. New carpet, vinyl flooring, kitchen appliances and air conditioners were installed. The acquisition/rehabilitation was funded by the Federal Department of Housing and Urban Development, the State Department of Housing and Community Development, the California Housing Finance Agency, the City of Davis’ Housing Trust Fund, and proceeds of the syndication of federal low-income housing tax credits. All units are affordable to households earning less than 60% of Yolo County’s median income.

WINTERS APARTMENTS
116 East  Baker, Winters, CA 95694
(530) 795-2500

In April of 2003, CHOC purchased this 44-unit complex located in Winters. Initial rehabilitation work included re-siding all the buildings, installation of all new windows and handicapped access to all commons areas.   The acquisition/rehabilitation and preservation of this rural affordable housing project was funded by the US Department of Agriculture, the California Housing Finance Agency, and the City of Winters.  USDA provided project based rental assistance for all 44 units.  Over time, all unit interiors will be renovated through a creative financing structure with CalHFA.

GATEWAY VILLAGE APARTMENTS
2000 Pennsylvania Avenue, Fairfield, CA  94533
(707) 428-5889
jwilson@chochousing.org

CHOC purchased Gateway Village, previously known as Hampton Place Apartments and four contiguous fourplexes in April 2001.  In excess of $4.5 million in rehabilitation, Gateway Village is a 56-unit complex with 38 two-bedroom units and 18 three-bedroom units.  Construction period financing from tax-exempt bond financing issued by the Association of Bay Area Governments ("ABAG") was purchased and loaned to the project by Bank of America.  Additional construction loans have come from the Redevelopment Agency and City of Fairfield and California Housing Finance Agency's ("CHFA") HELP loan program.  Rehabilitation of this site is a pivotal component in the City of Fairfield's effort to revitalize the surrounding neighborhood.  Permanent financing was provided by the California Community Reinvestment Corporation ("CCRC"), the Multifamily Housing Program ("MHP") from the State Department of Housing and Community Development ("HCD") , the Redevelopment Agency and City of Fairfield, and LIHTC equity investment from Alliant Capital.  Rehabilitation and new construction of a community room were completed in September 2003.

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SACRAMENTO MUTUAL HOUSING ASSOCIATION PROPERTIES

EVERGREEN ESTATES
1048 Dixieane Avenue
Sacramento, CA 95815
(916) 725-7385

FOOTHILL PLAZA I
5324 Hemlock Street
Sacramento, CA 95841
(916) 332-0366  

GLEN ELLEN ESTATES
2390 Glen Ellen Circle #1
Sacramento, CA 95822
(916) 428-0727 

GREENWAY VILLAGE
6311 Sampson Boulevard
Sacramento, CA 95824
(916) 399-8644

LOS ROBLES (SKY PARKWAY)
5500 Sky Parkway
Sacramento, CA 95823
(916) 392-4171

MUTUAL HOUSING AT LEMON HILL
6000 Lemon Hill Avenue
Sacramento, CA 95824
(916) 388-9514  

NORWOOD APARTMENTS
3257 Norwood Avenue
Sacramento, CA 95838
(916) 921-9558

NORWOOD ANNEX and NORWOOD ESTATES
3335 Norwood Avenue
Sacramento, CA 95828
(916) 649-3462 

RIVER GARDEN
2201 Northview Drive
Sacramento, CA 95823
(916) 922-7058 

NEWER CONSTRUCTION PROJECTS

ACACIA MEADOWS
7735 Stockton Boulevard
Sacramento, CA 95823
(916) 525-3600  
rharnden@chochousing.org 

This 9.6 acre site in South Sacramento, zoned at 30 DUA, was donated to CHOC by Washington Federal Savings Bank.  CHOC received an award of $5.6 Million from HCD's MHP program in December 2003.  Construction began in September 2004 and was finalized in May 2006.  Families for the 140 units of affordable rental housing on the site are moving into their new homes.  Applications are still being accepted and processed.  

To apply for rental housing at Acacia Meadows or to ask about availability, go to or call the Acacia Meadows Office, Monday through Friday between 9:00am and 5:00pm. 

After you have filled out an application, you will be contacted again when your application is being processed.  

WILDHORSE FAMILY APARTMENTS
1800 Moore Drive, Davis, CA 95616
(530) 758-1267
Wildhorse Family Apartments is a 70-unit mixed-income development in Davis' Wildhorse subdivision. Terracina at Wildhorse is a joint venture between CHOC and USA Properties, a successful for-profit developer of affordable housing based in Roseville. Terracina offers a mix of 2-bedroom/1-bath, 2-bedroom/2-bath , 3-bedroom/2-bath and 4-bedroom/2-bath apartments and amenities that include a community building, swimming pool, children's play area, individual garages and private storage units. The project was financed with a combination of Federal low-income housing tax credits and tax-exempt bond financing. There is no public financing or subsidy. Bank of America purchased the bonds issued by Association of Bay Area Governments ("ABAG") and is the construction and permanent lender for the project. SunAmerica is the tax credit limited partner. Rents are tiered to a mix of income levels: 41 units are "tax credit" eligible with affordability at 50% and 60% of median income; the remaining 39 units are affordable at 80% of median income. Construction was completed in July, 2000.  .

AUBERRY PARK
8120 Power Inn Road, Sacramento, CA  95828
(916) 681-5944
rgalloway@chochousing.org 

Auberry Park Apartments include 110 two- and three-bedroom units in South Sacramento. The complex was completed and opened in June, 1999. The property also houses a Head Start center developed by CHOC and operated by Sacramento Employment and Training Agency. Auberry Park rents to residents with incomes below 40% of median income for Sacramento County. Thanks to a grant from California Bank and Trust, Auberry has computers in a community study room to aid residents with homework and job search efforts. The complex also has a community room with a TV, a swimming pool, two laundry rooms, a full basketball court as well as children’s play areas and tot lots. The project was financed with assistance from Sacramento Housing and Redevelopment Agency, low-income housing tax credit equity investment from KeyBank, as well as construction and permanent financing through Bank of America Community Development Bank.


WINDMERE II
3100 Fifth Street, Davis, CA 95616
(530) 757-4438
cfoerster@chochousing.org  

The second phase of CHOC's successful Windmere Apartments is developed on a City affordable housing land dedication. The project offers 58 2-bedroom units affordable to families at or below 50% of area median income. Each unit has a generously sized private patio or balcony and individual exterior storage units. A grant from Union Bank will provide computer facilities in the Windmere community room for resident use. In addition to the land donation, the City of Davis provided $1.2 million in CDBG, HOME and Redevelopment Agency subsidy. Construction financing was secured from Bank of America Community Development Bank. Union Bank provided equity investment through its purchase of federal and state low-income housing tax credits awarded to the project. California Housing Finance Agency is the source of permanent tax-exempt bond financing. 


HOLLY COURTS
445 Maple Street, West Sacramento, CA  95691
(916) 372-0160
jday@chochousing.org 

Holly Courts is a 40-unit family affordable housing project located on a 3.75-acre parcel in the City of West Sacramento. The complex is a mix of 32 townhouses and 8 flats. The townhouses include 16 three-bedroom/2-bath units, 20 two-bedroom/1-bath units, and 4 four-bedroom/2-bath units. The 8 flats are made up of 4 two-bedroom/1-bath and 4 three-bedroom /1-bath units. The different unit mixes at Holly Courts allow for various family sizes to reside within the complex. The first households started moving into Holly Courts on February 1, 1996. The Holly Courts project includes a centrally located play area. Community outdoor space is provided adjacent to the play area on the eastern parcel and in the center of the western parcel. These areas include benches, picnic tables and a barbecue area. A common laundry facility is provided at each of the project’s two sites. A community room and the management office are centrally located in the project. Financing was provided by the City of West Sacramento’s Redevelopment Agency. Permanent financing is from CCRC. Equity for the project was obtained through the sale of state and federal low income housing tax credits. Holly Courts serves families between 50% to 60% of Yolo County’s median income.


DANBURY PARK
7840 Walerga, Antelope, CA  95843
(916)725-7385 
tdaniels@chochousing.org    

Danbury Park Apartments is a 140-unit family affordable housing project located on a six-acre parcel in the Antelope area of Sacramento County. The first units were occupied at Danbury Park in April, 1995, with completion of the rent-up in November, 1995. The project design has emphasizes units that are larger than others in the area, with 35 percent of the units being three-bedroom apartments. All units include a washer and dryer, and private individual storage rooms. The site is designed for family recreation, with courtyard areas, a children’s active play area, a “tot lot” and a swimming pool. Construction financing sources included Bank of America Community Development Bank and Sacramento Housing and Redevelopment Agency. Permanent financing was provided by California Community Reinvestment Corporation, Sacramento Housing and Redevelopment Agency and the sale of federal and state low income housing tax credits to Edison Capital. All two- and three-bedroom units offer affordable housing to families whose incomes are at 50% and 60% of Sacramento County’s median income.


WINDMERE APARTMENTS
3100 Fifth Street, Davis, CA  95616
(530) 757-4438 
cfoerster@chochousing.org 

Windmere is a 48-unit townhouse development located in the new east Davis subdivision of Mace Ranch Park. Rent up was completed in December 1994. Windmere has easy access to schools, parks, shopping areas and Interstate 80. Developed on a City land dedication, the project consists of 15 three bedroom/two bath units and 33 two-bedroom /two bath units. These light filled townhouse units have 9-foot ceilings downstairs, where living areas and kitchens are located. Three bedroom units have one bedroom and bathroom on the first floor. Wells Fargo Bank was the construction lender. Permanent financing for Windmere was obtained through the sale of federal and state low-income housing tax credits to Edison Capital, a loan from SAMCO and block grant assistance from the City of Davis. Windmere serves families that are at or below 60% of Yolo County’s area median income.


TUSCANY VILLAS & VILLA CALABRIA
2526 and 2537 East Eighth Street, Davis, CA 95616
(530) 757-4443 
jbears@chochousing.org   

In March 1992, CHOC received a 3.2 acre land dedication in East Davis. Tuscany Villas, a 30-unit multi-family site, is located across the street from Villa Calabria a 6-unit senior site. Of the project’s 36 units, 22 are three-bedroom, two-bath units. Twelve are two-bedroom, one-bath units and two are one-bedroom, one-bath units. The Tuscany Villas site includes two large courtyards, one of which includes a children’s tot lot. The Villa Calabria senior site includes a washer and dryer in each unit. Funding was provided through the Department of Housing and Community Development’s Rental Housing Construction Program, the Savings Associations Mortgage Company, and through the sale of federal and state low-income housing tax credits. Tuscany Villas and Villa Calabria serve families that are at or below 50% and 60% of Yolo County’s area median income.


HEATHER GLEN
2324 Shasta Drive, Davis, CA  95616
(530) 757-4440 
creese@chochousing.org  

In March 1991, a land dedication through the City of Davis made possible the development of Heather Glen Apartments. Within Heather Glens 62 townhouse units there are 44 three bedroom/two bath, and 18 two bedroom/two bath units. All units have washers and dryers. The site has a large centrally located tot lot, surrounded by benches, a gazebo and lush landscaping. Department of Housing and Community Development's Rental Housing Construction Program provided underwriting and permanent financing. Savings Associations Mortgage Company holds the first mortgage and the sale of low-income housing tax credits provided project equity.  Heather Glen serves families at or below 60% of Yolo County’s median income.


ROSEWOOD PARK & WILLOW GLEN
616 Ohlone Street and 310 Becerra Way, Davis, CA 95616
(530) 757-4439 
dbrowning@chochousing.org   

Rosewood Park is a 24-unit family complex that was part of a land dedication in 1989. Rosewood is comprised of one, two and three bedroom units, a mix of both townhouses and flats. The site has two central laundry rooms, abundant landscaping and open space and includes a tot lot. 

Willow Glen is a 12-unit senior complex that was also part of the land dedication. Willow Glen is comprised of 11 two-bedroom units and 1 one-bedroom unit. Each senior unit has a washer and dryer, two patios, and spacious living area. Financing for both projects is from the Department of Housing and Community Development’s Rental Housing Construction Program, the Savings Associations Mortgage Company, and through the sale of federal and state low-income housing tax credits. Rosewood and Willow Glen provide affordable housing at or below 60% of Yolo County’s area median income.


FOX CREEK APARTMENTS
1515 Valdora, Davis, CA 95616
(530) 757-4436 
msalo@chochousing.org  

In June 1989, a land dedication was the result of the strong promotion of affordable housing by the City of Davis. This land dedication brought on the start of construction of two new subdivisions in south Davis. Fox Creek Apartments serves families by offering a mix of thirty-six one, two and three bedroom units. There are both townhouses and flats within the complex. The site is surrounded with abundant landscaping and open space, a tot lot and includes three laundry rooms. Funding was received from the Department of Housing and Community Development’s Rental Housing Construction Program, the Savings Associations Mortgage Company, and through the sale of federal and state low-income housing tax credits. Fox Creek serves families at or below 60% of Yolo County’s median income. 


OLIVE COURT
1414 Olive Drive, Davis, CA 95616
(530) 757-4439 
dbrowning@chochousing.org 

Olive Court was the first new construction project of Davis Community Housing, now CHOC, in June 1987. Olive Court was designed as a small-family project with twenty-four two-bedroom apartments. All apartments are handicap accessible and there is a centrally located play area for children in the complex. All units are equipped with washer/dryer hookups. Financing is from the City of Davis Community Development Block Grant (CDBG), Bank of Woodland, The California Housing Finance Agency. Equity was obtained through the sale of state and federal low-income housing tax credits. Olive Court serves families at or below 60% of Yolo County’s median income.

WALNUT TERRACE
3101 Fifth Street, Davis, CA 95616
(530) 757-4438 
cfoerster@chochousing.org 

The City of Davis has provided 100% of the construction financing. The 30-unit senior rental housing project has been developed on a land dedication site awarded to CHOC by the City of Davis.  All of the units are affordable to seniors at 50%, 60%, and 80% of the Yolo County Median Income.  First Northern Bank provided a $1 million first mortgage for this project.

NEW DIMENSIONS

CHOC has partnered with the Yolo Community Care Continuum to develop a 15-unit special care facility on Kentucky Avenue in Woodland.  New Dimensions serves very low-income residents with special housing needs. Twelve units are designated “efficiency units,” or studio apartments, targeted for chronically mentally ill adults. The remaining three units, also targeted for the chronically mentally ill, are one-bedroom apartments. Supportive services at the neighboring Safe Harbor facility, and various local social service programs, are available to New Dimensions residents.  CHOC and YCCC received a capital grant from HUD's 811 program and a Multifamily Housing Program ("MHP") loan and a HOME award from the State Housing & Community Development Department.  Additional funding awarded to the project include CDBG awards from the City of Woodland and the City of Davis.

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SINGLE FAMILY HOUSING

MACE RANCH
Ponteverde, Javier, Rondo & Tulip Lane, Davis, CA 95616

CHOC purchased 31 lots in the Mace Ranch subdivision along Tulip Lane, at below-market rates from Mace Ranch Investors, fulfilling the developer’s requirements under Davis’ Affordable Housing Ordinance. Five lots were later sold and built out by Mullen Construction for income-eligible buyers. Land loans were secured from the seller and from Bank of America Community Development Bank (BACD). Phase I (6 units) was completed in January, 1996 as part of CHOC’s Self-Help Housing Program. Phase II (7 units) was completed in May, 1997 and Phase III (7 units) was completed in May, 1998. The final phase – Phase IV (6 units) – was built out as a joint venture with Mullen Construction and was completed in May, 1999. Construction of Phases I, II and III was financed by BACD with primary homeowner mortgages underwritten by FHA. The City of Davis deferred its Major Projects Financing fees of $9,165/unit with 20 year, 7% loans to Buyers secured by Second Trust Deeds. To recapture equity created in the self-help phase, the City of Davis also took back Third Trust Deeds at 0% interest for an average of $3,400/unit. Downpayment assistance was provided to 18 low-income buyers (below 80% of AMI) through awards to the City under the Federal HOME Program and the State-administered BEGIN program.


NORTHSTAR II
Merganzer Place and Tern Place, Davis, CA 95616

Ten homes were completed in June, 1995 in this second phase of self-help homes in the Northstar subdivision. These units are located on Merganzer, Curlew, and Tern Place. The land was purchased at below-market rates from Northstar Partners fulfilling the developer’s requirements under Davis’ Affordable Housing Program. Construction financing and first mortgage financing were provided by First Interstate Bank (then Sacramento Savings). Homeowners received variable or fixed interest rates, depending on their ability to qualify. The City of Davis deferred its Major Projects Financing fees of $7,000/unit with 20 year, 7% loans to all Buyers secured by Second Trust Deeds. To recapture equity created by the below market land and development costs, the City of Davis took Third Trust Deeds at 0% interest for an average of $30,000/unit. For their contribution of labor in constructing the homes, families received a 10% credit toward the purchase price from CHOC. Participant families earned between 65% and 95% of AMI.


WESTWOOD PARK
Humboldt and Calaveras Avenue, Davis, CA 95616

Ten homes were completed in August, 1990 in the Mathews Tract and Quail Ridge subdivisions in west Davis. 7 units are located on Calaveras Avenue and 3 on Humboldt Avenue, including one of CHOC’s few two-story half-plexes. The land was purchased at below-market rates from Quail Ridge Associates and Mathews Development satisfying the requirements of Davis’ Affordable Housing Ordinance. Construction financing was provided by the Bank of Woodland. The California Housing Finance Agency provided 30-year, fixed-rate first mortgage funds at approximately 7%, and the Department of Housing and Community Development provided $15,000 second mortgages that are forgiven after 20 years. CHOC financed the remaining gap with a 7% simple interest loan secured by a Third Trust Deed. For their contribution of labor in constructing the homes, families received a 10% credit toward the purchase price from CHOC. Participant families earned between 60%-80% of AMI.


QUAIL RIDGE II
Humboldt and Imperial Avenue, Davis, CA 95616

Ten units located on Imperial Avenue and Humboldt Avenue in the Quail Ridge subdivision were completed in August, 1990. Quail Ridge Associates sold the land to CHOC at below-market rates to fulfill requirements of Davis’ Affordable Housing Ordinance. Construction financing was provided by the Bank of Woodland. The California Housing Finance Agency made first mortgage loans to buyers at approximately 7%, and the Department of Housing and Community Development provided $15,000 second mortgages that are forgiven after 20 years. CHOC financed the remaining gap with an “equity share” loan secured by a Third Trust Deed. For their contribution of labor in constructing the homes, families received a 10% credit toward the purchase price from CHOC. Participant families earned approximately 60-80% AMI.


QUAIL RIDGE I
Imperial Avenue, Davis, CA 95616

Quail Ridge I, completed in June, 1988, was CHOC’s first single-family new construction project. The 7 units are located on Imperial Avenue in west Davis, off Arlington Way. Affordability was achieved through the mechanisms that would be replicated in CHOC’s subsequent Davis single-family developments. The land was purchased at below-market rates from the developer, Quail Ridge Associates. The California Housing Finance Agency provided first mortgage funds at approximately 7%, and the Department of Housing and Community Development made $15,000 second mortgage loans that are forgiven after 20 years. CHOC financed the remaining gap with an “equity share” loan secured by a Third Trust Deed. For their contribution of labor in constructing their homes, families received a 10% credit toward the purchase price from CHOC. Participant families earned incomes between 60%-80% of the area median. Construction financing was provided by Bank of Woodland.

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SUMMARY OF MULTI-FAMILY UNITS

Acquisition & Rehab Projects