• detail image of project

    $514,000 Loan Helps Elderly & Developmentally Disabled Individuals Thrive in Service-Enriched Environment

  • detail image of project

    $514,000 Loan Helps Elderly & Developmentally Disabled Individuals Thrive in Service-Enriched Environment

Sutton Irvine Residence, Inc.

Sutton Irvine Residences (SIR) is a nonprofit offering low-cost residency for elderly and developmentally disabled individuals. Facilitated through the Sutton Foundation, Inc., SIR provides cleaning, cooking, transportation, and other supportive services for residents in three single-family homes.

Clearinghouse CDFI (CCDFI) provided $514,000 in financing for SIR to pay off existing debt and  achieve compliance with HUD regulations.

CCDFI’s loan, along with SIR’s retention of a new HUD-approved managing agent, will strengthen the nonprofit’s ongoing operations and ensure HUD regulatory compliance. SIR will continue providing critical housing and support for 16 low-income individuals—the majority of whom earn below 50% of area median income.

 

Download the PDF: Just Funded – Sutton Irvine Residence

Financing Provided:
$514,000 Loan
Location:
Irvine, CA
Impact:
Service-Enriched, Affordable Housing for 16 Low-Income Elderly & Developmentally Disabled Individuals
Purpose:
Pay off Existing Debt & Achieve HUD Regulation Compliance
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