CDF Case Study
Project Scope
Arroyo Grande Villas is a 25-unit family townhouse and apartment complex located at 1911 Finnell Place in Yountville, CA. It was developed by Napa Valley Community Housing (NVCH).
Lending a Hand
The 25 units of one, two, and three-bedrooms serve families earning 50%-60% of AMI ($40,900-$49,080/yr for a family of four) in Napa County. The units were built using "Green" construction practices – featuring dual pane windows, efficient split-system electric heating and air conditioning, tank-less water heaters, interior light sensors and no VOC paints. The development includes a large community room and children's play area
Helping Finance
SVB is provided a $4,768,000 tax-exempt bond purchase loan for construction and a $1,023,000 tax-exempt bond/term loan for the project.
Results
Construction was completed September 2010 and the project was fully occupied in December 2010.