Clearinghouse CDFI (CCDFI) has committed $8,000,000 to support Rodeo Village, LP in Victorville, CA. This loan facilitates the refinancing of existing debts and provides funds for property improvements.
Rodeo Village is a 99-unit low-income multifamily rental complex providing crucial affordable housing solutions. The project leverages these funds to enhance property conditions and secure the living environment for its tenants. By upgrading unit interiors and common areas, the project aims to improve tenant satisfaction and safety while ensuring long-term sustainability and affordability. These enhancements are particularly significant as they support a community where a majority of residents earn below 60% of the Area Median Income (AMI), underscoring CCDFI’s commitment to serving underprivileged communities.
Rodeo Village, LP has been a long-standing borrower with CCDFI and has demonstrated strong commitment to maintaining and improving affordable housing standards. Their focus on community and tenant well-being aligns with CCDFI’s mission of fostering community development through strategic financial investments.
Read the full story here: Just Funded – Rodeo Village
24CA-7692
