Ten Fifty B

Project Details

Number of Units:

229

Total Project Cost:

$90 million

Financing:

Affirmed purchased the 0.46 acre lot for $4.7 million. The Redevelopment Agency of the City of San Diego is contributing its largest single subsidy ever, in the sum of $34 million. US Bank will provide construction and permanent financing and Boston Capital Partners will act as the tax credit equity investor. The State of California Department of Housing and Community Development Multifamily Housing Program will provide additional financing. The San Diego Housing Commission has issued $48.5 million in tax-exempt housing revenue bonds. The project has also received an award of 4 percent Low Income Housing Tax Credits from California Tax Credit Allocation Committee in the amount of $38,301,830.

Year Opened:

2010

Affordability:

25-60% AMI

CHC Member Partners:

Affirmed Housing

California Department of Housing and Community Development

California Tax Credit Allocation Committee

Centre City Development Corporation

San Diego Housing Commission

U.S. Bank

URL:

http://www.affirmedhousing.com/projects/current/ten_fifty_b.html

Location(s)

Ten Fifty B

1050 B St

San Diego, CA, 92101

See map: Google Maps

For a detailed article on the project from Multi-Housing News visit: http://www.multihousingnews.com/multihousing/search/article_display.jsp?...