Montebello Downtown Plaza – Montebello, CA
Clearinghouse CDFI (CCDFI) provided a $7 million loan to support the refinancing efforts of Montebello Downtown Plaza, aimed at strengthening its role as a hub for affordable senior housing and vibrant commercial activity in Montebello, CA.
In a community where affordable housing for seniors is increasingly needed, Montebello Downtown Plaza offers a critical solution. The plaza includes 55 residential units specifically designed for low-income seniors, combined with 16 retail spaces that bolster local commerce. The financing from CCDFI maintains the affordability of these units and enhanced the plaza’s facilities, ensuring it continues to serve as a cornerstone of community and economic stability in Montebello.
Montebello Downtown Plaza LLC, has a long-standing commitment to supporting the local community by providing essential services and housing. They work to preserve the quality of life for Montebello’s senior residents and foster local businesses, demonstrating a profound impact on the community’s overall well-being.
Read the full story here: Just Funded – Montebello Downtown Plaza
24CA-7710
Provides 55 units of low-income housing for seniors and 16 retail spaces to bolster local economy
Provides refinancing of current mortgage no two commercial buildings and residential building
