Senior Housing (and more) Development
Projects have included a variety of communities – independent, assisted living and dementia care, as well as single family home developments and a community church. Below you’ll find a brief introduction to a sampling of our work.
Arbor Faire Senior Apartments
A 50-unit independent-living senior citizen apartment project in one of North Fresno’s most desirable neighborhoods. The one- and two-bedroom units are fully handicap accessible, each unit also has a covered parking space and there is a well appointed community facility and transportation program.
Salinas Valley Memorial Assisted Living
A 70-unit assisted-living and dementia care facility: SVMAL was completed as a joint venture with the Salinas Valley Memorial Healthcare District. The completed facility was master-leased to Alternative Living Services, Inc.
Regency Court Senior Apartments
A 120-unit, low-income housing tax credit apartment project for independent senior citizens located in the Harden Ranch master plan development in Salinas, California. Midland Mortgage Investment Corporation of Clearwater, Florida provided the construction loan. The California Housing Finance Agency (CHFA) funded the permanent mortgage through the sale of tax-exempt bonds. The Project’s Investor Limited Partner is Sun America Affordable Housing Partners, Inc. The non-profit Managing General Partner is the Foundation for Social Resources.
Brookside Senior Apartments
This 120-unit, up-scale independent-living senior citizen apartment project was constructed on a 10.83 net acre site in the prestigious University Park area of Bakersfield, Calif.. The site was purchased from Castle & Cook. JP Morgan Mortgage Capital provided permanent financing. The project was undertaken as a joint venture with Clovest, Inc.
Westside Village Senior Apartments
A 40-unit, rural, low-income housing tax credit apartment project for independent senior citizens, Westside Village is located in Central California’s west side community of Newman. The project site was purchased by the City of Newman and contributed to the project. The project qualified for federal low-income housing tax credits that were purchased by SunAmerica Affordable Housing Partners Inc., a nationally recognized syndicator of housing tax credit investment funds. SunAmerica remains the Limited Partner. Tax-exempt bonds issued by the California Statewide Communities Development Authority and purchased by Bank of America Community Development Bank. The City of Newman Redevelopment Agency and the Federal Home Loan Bank of San Francisco each contributed additional grant and loan funds.
Claremont Senior Apartments I and II
Through a joint venture with Clovest, Inc., a wholly owned subsidiary of Clovis Community Bank, the Claremont 1 senior apartment community provides 72 apartments, including some fully equipped handicapped units, a spacious clubhouse and pool. The project is located immediately east of and adjacent to the Sierra Vista Shopping Mall in Clovis, California. A second 72-unit apartment development for independent-living senior citizens followed on a 4.99-acre site immediately east of the first community.
Casa Serena Senior Apartments
A 48-unit apartment project with club house for low-income senior citizens in Lompoc, California. Related Capital is the Investor/Limited Partner. The California Community Reinvestment Corporation provided permanent financing; Bank of America Community Development Bank funded the construction loan.
With eight stylish floor plans, three different exterior design options, opulent features, endless amenities and distinctive Old-World flair, homeowners love calling this place home. Each homeowner enjoys quality, trusted name brands, premium home construction, and unmatched architectural style. Situated in a growing community with rural charm, Lemoore is a jewel of the San Joaquin Valley.
New Covenant Community Church
This 50,000 square-foot multiple-story, rigid-frame steel structure features a new sanctuary that seats nearly 1,400 per service with world-class sound, lighting and broadcasting capability. It also houses numerous children’s and adult classrooms, 25 administrative staff offices, conference facilities, chapel and “Starbuck style” coffee center. The new facility serves as a conference hub for many community-based organizations. Both local governmental agencies and business gatherings use the facilities. It is sited on the church’s 12 + acre property in the growing Northeast Fresno neighborhood.