Celebrating the Equity Closing of Esparto Family Housing II
Congratulations to Mercy Housing California on the equity closing of Esparto Family Housing Phase II!
The construction of Phase II will provide an additional 40 homes, affordable for families earning between 30% and 55% of Area Median Income. The project will provide a variety of resident services, including an after-school program for children of both Phase I and II.
Esparto Family Housing Phase II will meet the Enterprise Green Community criteria, including energy saving features that will benefit residents.
Wells Fargo is providing $6.6 million of construction financing. Permanent financing includes $1.5 million from California Community Reinvestment Corporation and $4.5 million in HOME funds from Yolo County and the State of California. Enterprise will provide $4.8 million of equity.