Finca Serena Apartments

Location
358 South E Street, Porterville CA 93258
Tulare County

 

Summary
Finca Serena is an 80-unit new construction project, with 39 one-bedroom, 19 two-bedroom, and 20 three-bedroom permanent supportive housing units, serving chronically homeless or at-risk households with incomes between 30 and 60 percent of the Area Median Income (AMI), two managers’ units, and no market rate units. Thirty-four of the units are HOME units, serving households with income at or below 30 percent AMI. The project grand opening is scheduled for November 2023

 

Benefits
Each unit has a refrigerator, range, microwave, and balcony or patio. On-site amenities include laundry room, community room, community kitchen, computer room, picnic/BBQ area, and tot lot or playground. Off-site amenities, located within two miles of the project, include immediate access to public transportation, a Grocery Outlet, a CVS pharmacy, the Sierra View Medical Center, Porterville College, and the Porterville Transit Center.

Supportive services, including on-going case management and a range of wrap-around supportive services, are available for 39 of the total units. Thirty-three one-bedroom, five two-bedroom, and one three-bedroom units are reserved for Kings/Tulare Homeless Alliance Subsidy and County of Tulare Health & Human Service Agency qualified households.

Ribbon cutting and grand opening occurred May 30, 2023. The project is currently fully rented.

 

Innovation
Finca Serena provides permanent affordable housing with a full complement of wrap-around supportive services to disabled, chronically homeless, and at-risk households with incomes between 30% and 60% of the area median income, to ensure that they have a safe and stable environment in which to not just merely survive but to thrive.

 

Partners

  • UPholdings and Self-Help Enterprises: co-developers and property owners
  • Tulare County Health & Human Services Agency (HHSA): lead service provider
  • Kings Tulare Homeless Alliance (KTHA): provided project-based subsidies
  • R.L. Davidson, Inc.: project architect
  • BJ Perch Construction: general contractor
  • Gateway Engineering, Inc.: project engineer
  • UPA, LLC + GSF Properties: property manager & compliance agent
  • California Tax Credit Allocation Committee (CTCAC)
  • California Debt Limit Allocation Committee (CDLAC)
  • California Department of Housing and Community Development (HOME / NPLH)
  • California Municipal Finance Authority (CMFA)
  • Enterprise Community Partners
  • KeyBank
  • City of Porterville

 

Funding

  • HOME: $6,000,000
  • NPLH: $7,582,938
  • Low Income Housing Tax Credit Equity: $15,148,631
  • First Mortgage (Key Bank): $2,514,000
  • Private funds: $1,275,302
  • Total: $32,520,871

 

Contact
Jessica Hoff Berzac, Principal, UPHoldings
[email protected], (773) 936-5014

 

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