Clearinghouse CDFI (CCDFI) provided three loans totaling $588,325 to Oakview Apartments. These loans facilitated the refinancing of existing debt and provided necessary funds for deferred maintenance and capital expenditures for affordable housing units at Oakview.
In Southern California, particularly in Huntington Beach, the need for affordable housing is evident by the consistently high occupancy rates of rent-restricted units, nearly all of which are at full capacity. Addressing this demand, Jamboree Housing Corporation (JHC) offers low-income families access to affordable housing options. Financing provided by CCDFI helps JHC maintain 3 multi-family properties for 15 units of affordable housing. Among the three properties, 14 units are reserved for tenants earning below 50% of the Average Median Income (AMI), while one unit caters to tenants earning less than 80% AMI. These properties support JHC’s commitment to affordability, significantly contributing to the stability and well-being of its residents.
Jamboree Housing Corporation, the managing entity of Oakview Apartments, is a recognized leader in the development of affordable housing in California. JHC focuses on building communities that offer affordable and workforce housing, complemented by essential resident services.
Read the full story here: Just Funded – Oakview Apartments