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| Michael Gaber |
SAN FRANCISCO, CA– WNC, a
national investor in real estate and community development initiatives,
announced today the completion of Kimme’s
Place, a new affordable housing community with a combination of 66
reconstructed and new units in the Bay Area suburb of Vacaville, Calif.
WNC provided approximately
$3.4 million in low-income housing tax credit (LIHTC) equity to fund the
development.
Kimme’s Place consists of
26 one-bedroom and 40 two-bedroom garden-style units for families. Located at
1437 Callan St., amenities include onsite management, a laundry facility,
fitness center, classroom/computer room and picnic area. Each unit is equipped
with central heating and air conditioning, energy efficient appliances, inset
LED lighting and granite countertops.
Kimme’s Place was
co-developed by CFY Development Inc. and The EGIS Group Inc. With a total cost
of $15 million, the development took approximately one year to complete. Bruce
Keith served as the project’s architect. Additional funding was provided by the
City of Vacaville, Boston Capital and JP Morgan Chase.
“WNC has long-term
relationships with CFY Development and EGIS that have spanned more than 25
years and 10 years, respectively,” said WNC Executive Vice President and Chief
Operating Officer Michael Gaber.
“Our firm is very proud to have partnered with them once more to preserve and
upgrade 66 units of affordable housing that may otherwise be out of reach for
families in need.”
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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