224-Unit Affordable Senior Community Opens in Riverside, CA

WNC, a national investor in community renewal and affordable housing projects, in partnership with USA Properties Fund, has announced the grand opening of Vintage at Snowberry Apartment Homes. The 224-unit community will address the extensive need for affordable housing among seniors in Riverside County. WNC provided $9 million in LIHTC financing for the project, which was developed by USA Properties Fund.  According to USA Properties Fund, the $32 million development will also provide a positive economic impact to the Riverside community, supporting 170 construction jobs during development and 72 ongoing local jobs directly related to Snowberry’s operation.  Financing partners for the project included WNC, The City of Riverside, Riverside County Department of Mental Health, Wells Fargo Bank and Citi Community Capital.

PR.com

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