Napa Redwood Housing | NMTC Financing for Affordable Condominium Development
Clearinghouse CDFI provided $10 million of New Markets Tax Credits allocation and a $4.1 million source loan to Heritage Housing Partners to support the development of Napa Redwood Housing. This project will create 40 affordable for-sale condominium homes for first-time homebuyers in Napa, California, available to low- and moderate-income households. Twenty-five homes will be available to households earning between 50% and 80% of Napa County area median income (AMI), while 15 homes will serve households earning between 80.1% and 120% of AMI.
In Napa’s high-cost housing market, affordable homeownership opportunities remain limited. This project makes homeownership more attainable, allowing more first-time homebuyers to put down new roots in the community.
We’re excited to continue our partnership with Heritage Housing Partners, building on years of collaboration to expand affordable housing opportunities. From supporting their efforts to preserve affordable homeownership in Pasadena to financing the Napa Community Real Estate Fund’s vision for new affordable housing in Napa, it’s been a privilege to help bring impactful projects like these to life, and we’re proud to support their next chapter.
#25CA-7931A&B, 25CA-7984
Expands access to affordable homeownership in Napa by creating 40 for-sale homes for first-time low- and moderate-income buyers, helping families achieve long-term housing stability.
To finance the development of affordable for-sale condominium homes in Napa, California, providing first-time low- and moderate-income homebuyers with greater access to affordable homeownership in a high-cost housing market.
