Vista Lane Family Homes will will include modern residential amenities including kitchen refrigerator and stove, garbage disposal and an air conditioning unit. Shared space includes a sizable community room, a laundry area, onsite property management, free internet access in common areas, a recreation section, kids playground and two courtyards. Children will enjoy select programs and there will also be adult educational classes.
The total development cost for Vista Lane is $66.7 million. Hunt Capital Partners syndicated the federal tax credits through its multi-investor fund, Hunt Capital Partners Tax Credit Fund 48. California Bank & Trust and CIT Bank produced a $37.7 million tax-exempt construction bond loan and a six million two hundred thousand dollar taxable construction bond loan. Citi Community Bank provided a $27.2 million forward tax-exempt permanent bond loan. HCP Bond Investors, LLC provided a three million dollar permanent subordinate bond loan.
We were honored to work with these amazing partners on this project.
