Vista de la Puente
This month, CSH approved a significant acquisition loan to Townspeople to help create supportive housing units within the planned Vista de la Puente development.
Facts about the project:
- Located in the South Crest neighborhood in the City of San Diego, CA
- It is expected that the resident population of this development will be chronically homeless, homeless veterans, and other people who are frequent utilizers of the public healthcare system.
- Vista de la Puente will provide 52 units of newly constructed affordable housing with 38 units set aside for homeless and chronically homeless veterans and veterans with disabilities and 14 units restricted to homeless individuals and families in need of supportive housing.
- In early June 2015, CSH provided an acquisition loan in the amount of $500,000 to secure the property for the development. Toby Lieberman, Senior Loan Officer in California, underwrote this loan.
- The Borrower and developer is Townspeople located in San Diego, California.
Townspeople has been providing services to people living with HID/AIDS for 30 years. They have deep expertise in providing housing information and referral services, emergency rental assistance to prevent homelessness, emergency utility assistance, access, support to access entitlement programs, individual housing plans, residential supportive services, homelessness prevention and repaid re-housing and case management and coordination.
Townspeople developed, owns and operates three supportive housing projects for people living with HIV/AIDS, and was the first in the San Diego area to focus specifically on this population. Their mission is to “consistently provide access for low income people and specifically those living with HIV/AIDS to affordable housing and other services to enable self-sufficiency”.