Wasco, CA Welcomes Central Avenue Senior Apartments
WHO: Senior and retired agricultural workers, Wasco Affordable Housing, Inc., the city of Wasco, the United States Department of Agriculture and Enterprise Community Investment, Inc.
WHAT: Welcome, grand opening, ribbon cutting and tours of the new Central Avenue Senior Apartments
WHEN: Tuesday, July 8, 2008, at 10:00 a.m.
WHERE: 300 Central Avenue, Wasco, Ca., 93280;
Near Highway 46 & Central Avenue
GUEST SPEAKERS:
- Mayor Pro Tem Fred West, Jr., City of Wasco
- Wayne Montgomery, Chairman, Wasco Affordable Housing
- Ben Higgins, State Director, USDA - Rural Development
- Jennifer Caspar, California Acquisitions Manager, Enterprise Community Investment, Inc.
BACKGROUND: Central Avenue Senior Apartments offers 42 newly constructed homes to retired and working agricultural workers, 62 years of age or older, who earn 60 percent or less of the median area income. The apartment complex features one- and two-bedroom units located within 14 single story buildings. Each apartment features a stove, microwave, refrigerator, dishwasher and a personal washer and dryer. Also located on the property are an on-site community building, a medical resident's services office and a manager's office. A fully subsidized property, Central Avenue Senior Apartments is committed to providing low-income agricultural workers with comfortable, affordable housing and residential services. The $8.2 million project was development by Wasco Affordable Housing, Inc. with the assistance of a $3 million tax credit equity investment from Enterprise Community Investment, Inc., $2.25 million in permanent financing from the USDA Rural Development program, which includes a mortgage and rent subsidies, and a $900,000 loan from the State of California's Joe Serna Jr. Farmworker Housing Grant Program.
Enterprise Community Investment, Inc. is a leading provider of the development capital and expertise it takes to create decent, affordable homes and rebuild communities. Enterprise leverages low-income housing, new markets and historic rehabilitation tax credits, short and long-term debt, and development services to capitalize projects that make a catalytic difference in communities. Enterprise has privately raised over $9 billion to finance more than 240,000 affordable rental and for-sale homes, create vital communities and help transform the lives of low-income Americans, particularly those at the lowest end of the economic scale. Currently, Enterprise is investing in communities at a rate of $1 billion a year. Visit www.enterprisecommunity.org and www.enterprisecommunity.com to learn more about Enterprise's efforts to build communities and opportunity.
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Resources & More Information |
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Media Contacts
Jon Searles
Enterprise
202.649.3916
Email Jon
TeAnne Coleman Chennault
Enterprise
213.833.7988 ext. 32
Antonio Hernandez
Wasco Affordable Housing, Inc.
661.758.0566 |
Other Media Coverage
The Bakersfield Californian
July 8, 2008 |
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