Acquisition Financing Loan from Clearinghouse CDFI Preserves Affordable SRO Units in Historic Hotel Woodland
Clearinghouse CDFI provided a $734,000 loan to Synergy Community Development Corporation (CDC) for the acquisition of the historic Hotel Woodland. Originally built in 1928, the property is part of the Downtown Woodland Historic District and includes ground-floor retail, office, and community event space.
Maintaining a Historic Downtown Asset
Hotel Woodland anchors a prominent corner within the Downtown Historic District, combining residential units with street-level commercial space that supports local businesses. Its scale and configuration make the hotel one of the larger residential properties within the district. With this financing, Clearinghouse CDFI supports the continued stability of a mixed-use asset that integrates affordable housing within a historic and economically significant downtown setting.
Hotel Woodland – Preserving Affordable Housing
The property includes 76 single-resident occupancy (SRO) units serving very low-income residents at or below 40% of AMI. The acquisition preserves affordability for a 55-year term, supporting long-term housing stability for residents. Layered rental assistance includes 15 units reserved through the Veterans Affairs Supportive Housing (VASH) program and 14 units supported by tenant-based Section 8 subsidies.
Borrower Profile
Synergy CDC is a nonprofit organization engaged in the acquisition and management of multi-family residential properties. The Hotel Woodland project reflects Synergy CDC’s broader focus on preserving long-term affordable housing assets that serve very low-income residents.
Learn more about our service areas on our Impact Map.
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