Rental Housing Development

CHOC’s rental housing portfolio is its most significant contribution toward the affordable housing needs of the communities we serve. With nearly 900 units for families, seniors, and single adults, we consistently address two goals:

· Well designed, well built units which are a source of pride for residents and communities, and
· Rents affordable to very low- and low-income households.

Affordable housing is a growing need as housing costs in many communities rise beyond the incomes of families who live and work there. Safe, affordable housing is a community asset that enhances neighborhoods and meets basic needs. 

With the decline in government financing, CHOC increasingly leverages private investment to make the most of limited public resources. Since 1984, CHOC has secured more than $70 million in project financing, $23 million in conventional debt and $34 million in private sector equity investment.

Maximizing investment from both public and private partnerships will continue to be critical if the region is to meet the challenges from population growth and the increasing demand for housing. Current projections are that the population of the Sacramento/Yolo region will grow by more than 20 percent between now and the year 2010.

Homeownership Development

CHOC has been creating first-time homeownership opportunities since 1988, building its first single family houses in Davis. These units featured affordable monthly mortgage payments and low down payments. The attractive three bedroom homes were designed to fit into and enhance their neighborhoods.

In the past, CHOC promoted long-term successful home ownership, especially for first-time buyers, by providing homebuyer counseling and structured financing.  

Southfield Park Condominiums (formerly Greene Terrace)  in South Davis is a homeownership program that CHOC is administering for the City of Davis.  These condominiums are about 10 years old and consist of 2 and 3 bedroom units.  Income and deed restrictions apply.  Pre-qualified, pre-approved applicants on the waiting list are notified by CHOC when units come up for sale.  To be added to the interest list, email your name, address, and phone number to: amarin@chochousing.org    

CHOC is in the process of developing a land trust homeownership program in Davis.  Please do not call for information as no further details are available at this time.  To be added to the interest list, email your name, address, and phone number to: amarin@chochousing.org