“CCBA contracted Mirka Investments LLC as the development consultant and administrative general partner. Sun Country Builders Inc., which originally built the CCBA Senior Gardens in 1999, is the general contractor. Hedenkemp Architecture and Planning is the project architect. Barker Management Inc., which has managed CCBA Senior Gardens since its inception, is the management agent.” SHB
CCBA Senior Garden Apartments is a re-syndication of an existing Low Income Housing Tax Credit. The project was co-developed by Chinese Consolidated Benevolent Association of San Diego and is located in Senate District 39 and Assembly District 78. The total development cost for CCBA Senior Gardens was $15.75 million. Hunt Capital Partners syndicated the federal tax credits into two multi-investor funds, Hunt Capital Partners Tax Credit Fund 31 and Fund 37. Lenders included BBVA Mortgage Corporation – who provided $8 million in construction financing. America First Multifamily Investors L.P. provided a $3.8 million permanent financing commitment. Other sources include $4.4 million in seller financing; $1 million from the rollover of existing funding from the City of San Diego; and $440,000 from the Federal Home Loan Bank of Atlanta via an Affordable Housing Program loan.
CCBA Senior Garden Apartments is a re-syndication of an existing Low Income Housing Tax Credit (LIHTC) project, CCBA Senior Garden (CA-00-801).
We were honored to work with these amazing partners on this project.