Monday, August 25, 2014

WNC provides $6.4 million in LIHTC equity to develop The Aspens, a 47-unit community in Central California

                                                                             
Michael Gaber

 TULARE, CA – WNC, a national investor in real estate and community development initiatives, announced the completion of The Aspens, a 47-unit affordable housing community in the Central California town of Tulare. 

WNC provided $6.4 million in low-income housing tax credit (LIHTC) equity to fund the project. The property was developed by Kaweah Management Company and The Pacific Companies.

 An open house celebrating the project’s completion, attended by Congressman Devin Nunes, was held on Aug. 20.

Located at 1500 – 1673 Aspen Ave., The Aspens is comprised of two- and three-bedroom units, equipped with washer and dryer connections.

On-site amenities include a swimming pool, clubhouse with community room, children’s playground, picnic area, computer lab, central laundry room and on-site management. The property is available to families earning between 30 percent and 60 percent of the area’s median income.

“We are pleased to deliver The Aspens, a high quality, yet affordable housing option to the families of Tulare that are most in need,” said WNC Executive Vice President and Chief Operating Officer Michael Gaber.

“This property offers quality accommodations with many in-house and on-site amenities, and we couldn’t be happier to work with our development partners, including the Pacific Companies, the City of Tulare, the Housing Authority of Tulare County, and Rabobank to increase the nation’s supply of low-income housing.”

For a complete copy of the company’s news release, please contact:

Julie Leber
Spotlight Marketing Communications
949.427.5172, ext. 703

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