Baldwin Park Apartments
Using Low-Income Housing Tax Credits (LIHTC), the Cesar Chavez Foundation (CCF) will develop the Baldwin Park Apartments. The property will include 57 affordable housing units with convenient metro access, a public park, several grocery stores, and a health facility.
Loan Purpose: Acquisition
Project: Affordable rental housing
Borrower: CCF, a nonprofit organization, enriches and improves the lives of farmworkers and Latino families by meeting their essential human, cultural and community needs. It offers working families in the Southwest an extensive set of programs and services, including affordable housing, after-school programming, and senior services.
Loan Details: For the subject loan, Partners' work with Mercy Community Capital provides a $1,500,000 pari passu participation in a $3,285,000 loan that funds CCF’s acquisition of seven contiguous lots.