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Hudson Housing Deals:
| PRESERVING AFFORDABLE HOUSING
Channel Island Apartments
Oxnard, California
Hudson Housing teamed up with the Steadfast Company to acquire and rehabilitate an older subsidized apartment complex in Ventura County. The property was constructed in 1970 and includes one, two, and three-bedroom units.Although extensive rehabilitation work was not required, Steadfast undertook important improvements to the complex, including new kitchen appliances, counter tops, cabinets, painting and floor treatments, new lighting, and new bathroom fixtures.Repairs also included new stairways and patios, improved drainage, major landscaping improvements, new playgrounds, and repaved parking areas.No tenants were displaced, and the existing Housing Assistance Program (HAP) contract has been extended until 2017.
Hudson Housing is committed to preserving the inventory of existing affordable housing.
- Type of Project…………Family Rehab
- Sponsor…………………Steadfast Company
- Total Project Cost………$20,000,000
- Number of Units…………..152
- Date Closed……………….August, 2003
- Total Hudson Equity………$5,000,000
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