Permanent Mortgages can be financed as stand-alone forward commitments or as “seamless” deals. In a seamless transaction, a member bank construction loan is paired with a CCRC permanent loan in one origination product.
South Hayward BART Family & Seniors Communities – CCRC is excited to announce that the South Hayward BART Family & Seniors Communities, developed by Eden Housing Inc., broke ground in Hayward on September 15, 2015. In addition to providing 87 affordable apartments for families and 64 affordable apartments for seniors, these communities will offer a large courtyard with playground, community gardens, computer centers, and a barbecue area with picnic tables. The buildings are designed with sustainability in mind and have achieved a Green Point rating of 149 as well as ENERGY STAR certification.
Financing for the project is being provided by CCRC, Wells Fargo, the City of Hayward, the California Department of Housing and Community Development, the County of Alameda, the Federal Home Loan Bank of San Francisco, TCAC and CalFHA.
CCRC wishes the best of luck to all those who are helping bring the South Hayward BART Family & Seniors Communities to fruition.
CCRC will act as MAP lender for the processing of HUD insured 223 (f) refinance transactions.
Our Application Checklist provides ease of use to complete forms required for due diligence
CCRC will improve outcomes for low-income families, seniors and residents with special needs throughout California by facilitating private capital flow from our investors using a housing first model.
CCRC will become the premier provider of capital serving the needs of low-income residents and communities.
A CCRC-Funded Property Receives Homes Within Reach Award – The Southern California Association of NonProfit Housing (SCANPH) recognized New Pershing Apartments, a Skid Row Housing Trust development, which provides 69 apartment homes for formerly homeless and low-income individuals, as Homes Within Reach Award recipients at the annual housing conference held on Sept. 17-18th, 2015.
SCANPH’s Homes Within Reach Awards honor developers, projects, and lenders for outstanding work in affordable housing. New Pershing Apartments received the Transformative Communities award, which honors projects that contribute positively to the surrounding community.
CCRC Held its 26th Annual Membership Meeting at 1180 4th Street – 1180 4th Street features 99 affordable rental homes for very-low and low-income families and 50 affordable units for formerly homeless households. The community straddles San Francisco’s South of Market neighborhood and the new Mission Bay area, home to a new campus and medical center for the University of California, San Francisco. A large community room serves the residents of 1180 – 4th Street and is open during weekdays for the after school program for grade school children living at the building. A restaurant will anchor the corner of 4th and Channel Streets and the remaining 5-7 commercial spaces will be marketed to neighborhood-serving commercial tenants and will extend down the 4th Street commercial corridor wrapping around Longbridge Street. A resident property manager lives on-site.
- 99 affordable rental apartment homes for low-income families
- 50 units for formerly-homeless households
- One-, two- and three-bedroom apartments
- Completed in 2014
- Environmental features: Energy Star washers, dishwashers and refrigerators, Energy Star Advanced Lighting package, recycled gray water/rain water irrigation system, no or low VOC products, use of environmentally friendly building material (recycled content materials), construction waste recycling/minimization which diverts at least 25% of construction waste from landfills and recycles at least 75% of construction and material waste.
(Updated information taken from https://www.mercyhousing.org/CA-1180-4th, 01/13/16)
New Pershing Apartments Skid Row Housing Trust Receives Homes Within Reach Award – The New Pershing Apartments is the transformation of a century-old Single Room Occupancy (SRO) hotel in Downtown Los Angeles into a modern, sustainable, mixed-use, mixed income development with 69 studio and one bedroom apartments for formerly homeless and low-income individuals. Skid Row Housing Trust preserved the previous building’s historic Victorian facade while eliminating its substandard infrastructure and layout in favor of a more modern and spacious interior. In addition to providing homes for some of Los Angeles’ most vulnerable residents, the New Pershing Apartments features three ground floor commercial spaces that will activate both 5th and Main streets with retail and dining options. Furthermore, the New Pershing will achieve Gold Certification through USGBC’s LEED for Homes program, incorporating sustainable elements such as community gardens and solar thermal panels.