The projects are located in Napa, Santa Cruz and San Francisco, and will construct and rehabilitate housing for very low-income elderly residents. The housing assistance grants are used to subsidize rents for 5 years so residents pay only 30% of their income for rent.

The Christian Church Homes of Northern California and co-sponsor Napa Valley Community Housing received $7.9 million to build an apartment complex, which will include 77 1-bedroom units and a 2-bedroom resident manager apartment at 3400 Jefferson St. in Napa. An additional $1.9 million was awarded for rental subsidies.

Construction of the $12 million project is scheduled to begin in 2003 or sooner. Additional funding will be provided by Napa City and County sources.

In Santa Cruz, Mercy Housing received $3.3 million for the construction of 29 efficiency units, 7 1-bedroom units and a 2-bedroom resident manager's apartment. Mercy will also receive $892,000 in rental subsidies.

The Mission Housing Development Corporation in San Francisco was awarded $3.8 million to construct 24 efficiency and 12 1-bedroom units, as well as a manager apartment. The developer will also receive $892,000 for rental subsidies.

HUD officials say that the three projects are near public transportation, shopping and pharmacies.

California received $66 million in HUD Section 202 assistance grants. A total of $604 million was awarded nationwide to the 157 successful nonprofit grant applicants.

The HUD Section 202 grants will create more than 6,000 federally subsidized apartments nationwide. The grants aim to assist the elderly with the four greatest challenges faced in elderly housing conditions in the U.S.--adequacy, affordability, accessibility and appropriateness.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM Digital Member, you’ll receive:

  • Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.