As the need for affordable housing for seniors and veterans continues to increase, we are thrilled to announce receiving more than $107 million in funding for four of our newest developments serving these two groups.
Lightfighter Village will be a 71-unit affordable housing community for low-income and extremely low-income veterans in Monterey, California. It has received nearly $12 million in funding from the Veterans Housing and Homelessness Prevention Program (VHHP), implemented by the California Department of Housing and Community Development (HCD).
In Imperial, California, Imperial Village was awarded $2.4 million from the U.S. Department of Housing and Urban Development’s (HUD) Office of Multifamily Housing Section 202 program. The Section 202 program helps fund housing construction for low-income and very low-income seniors and provides critical rental assistance. One of only two new developments in California to receive funding from the 202 program this year, Imperial Village will be a 69-unit affordable housing community.
EAH Housing received multiple funding awards from Hawaii Housing Finance and Development Corporation (HHFDC) for the development of Halewilikō Highlands and West Kawili Street Seniors/Veterans Housing, two of its two newest affordable housing communities in Hawaii.
Halewilikō Highlands in Aiea (Honolulu County) was awarded $26.75 million in Hula Mae Multi-Family (HMMF) bond financing, over $1.9 million in annual state and federal low-income housing tax credits (LIHTC), and a Rental Housing Revolving Fund (RHRF) loan of up to $23.8 million. It will be a 140-unit affordable housing community for low-income and very low-income seniors.
West Kawili Street Seniors/Veterans Housing in Hilo (Hawaii County) received multiple funding awards, including $24 million in HMMF bond financing, nearly $2 million in annual state and federal LIHTC, and $16.6 million in RHRF. Working in conjunction with Hawaii Island Veterans Memorial, Inc. (HIVM), the new development will feature 92 units and serve low and very low-income households with a preference for veterans and their spouses.