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