Kings Beach Housing (Domus Management)

204 Chipmunk St, Kings Beach, CA

Total Units: 77 

Description

Domus Housing is comprised of 77 units on five sites. Units range from studios to three-bedroom units. All units are income-restricted, with residents required to earn between 30% and 60% of the Area Median Income (AMI). Domus also features a large community space that offers services such as exercise classes, computer training, and life skills workshops for residents and community members.

Financing Details

The project was financed through a combination of sources, including a $1,995,900 permanent loan from Alliant Capital and $2,000,000 in HOME funds. Additional support came from the Placer County Redevelopment Agency, which provided $4,650,400 in seller carry-back financing, $1,136,500 in predevelopment funding, and a $2,131,400 loan. The development also received a $3,314,400 Infill Infrastructure Grant from the California Department of Housing and Community Development (HCD), as well as $75,000 in fee waivers from Placer County. The capital stack was further supported by $1,627 in general partner equity, $675,000 in deferred developer fees, and $16,272,756 in tax credit equity.

Contact

For more information, visit Domus’s website.