Frishman Hollow II

11200 Rue Ivy, Truckee, CA

Total Units: 68

Description

Frishman Hollow II offers 68 additional affordable apartments next to the very popular Frishman Hollow community on the northside of Truckee (next to Alder Creek Middle School). The buildings feature modular construction designed by AO Architects.

Financing Details

The project secured a 4% California Tax Credit allocation and State Tax credits of $14,750,000; California Debt Limit Allocation Committee (CDLAC)/California Housing Finance Agency (CalHFA) loan of $6,610,000; CalHFA Mixed-Income Program (MIP) financing of $4,388,000; deferred development fee of $1,705,00; a below market loan of $1M from the Martis Fund (committed upon certificate of occupancy); and a below market loan of $1.36M from the Town of Truckee. The project also received fee deferrals from Truckee-Donner Recreation and Park District and the Truckee Fire Protection District. Sugar Bowl Ski Area + Soda Spring provided modular unit storage.

Contact

For more information, visit Frishman Hollow II. You can contact Frishman Hollow II directly at frishmanhollow@cresapts.com or  530.587.5700.