La Puente, CA
Sunny Garden Apartments
the financial opportunity, the residential need, and how we achieved both:
Project Profile
Address: 13712 Sunkist Drive, La Puente, CA 91746
Units: 95
Type of Financing: Acquisition & Rehabilitation/LIHTC
Seeing the Opportunity
Sunny Garden is a 95-unit affordable senior multifamily development located in La Puente, CA. The project was at risk for being converted to market rate jeopardizing the loss of affordable housing units for senior residents with low income.
Creating A Bridge
APG was able to acquire the property while securing funding and project-based rental assistance from the Los Angeles County Development Authority, competitive tax exempt bonds from the California Debt Limit Allocation Committee, bridge loans from Century Housing Corporation and Rose Community Capital, LLC (also FHA lender) to preserve this affordable senior housing community.