• Estabrook Senior Housing

     
  • CDF Case Study

     Estabrook Senior Housing

    Project Scope

    Estabrook Senior Housing, is a 51-unit senior apartment complex designed for an independent senior population located in San Leandro, CA developed by Eden Housing, Inc.

    All units include full kitchens for independent living. The project has a large community room, service coordinator offices, a library-computer room, media room, and fitness room. A landscaped roof terrace is located on the south wing which meets the City's requirements for common open space.

    Lending a Hand

    The 51 one-bedroom units (1-unit for on-sight manager) provide for those persons 62-years of age and earning 30% of AMI ($19,000/yr for a single person) in Alameda County. The project is being operated through the Department of Housing and Urban Development's (HUD) new Mixed-Financed Development for Supportive Housing for Elderly Program, which combines HUD Section 202 financing with Low Income Housing Tax Credits.

    Helping Finance

    SVB provided a $10,373,000 tax-exempt bond purchase loan for construction, and SVB received an Affordable Housing Program (AHP) grant for $255,000 from the Federal Home Loan Bank of San Francisco (FHLB-SF).

    Results

    Construction was completed in June 2010.