Fresno County was proud to join with the City of Kerman and Willow Partners LLC to celebrate to start of construction on the Gateway Villas Apartments, a 61-unit affordable housing development for families located in Kerman, California.
The property will offer thirty 3-bedroom and thirty 2-bedroom units, all with two bathrooms. Also included is a property manager’s residence to ensure active management oversight.
“This is an example of a tremendous team effort that brought together the private and public sector,” says Fresno County District 1 Supervisor, Brian Pacheco. “The City of Kerman gave Willow Partners the land and deferred fees while Fresno County staff worked with them to get a no-interest loan for a portion of the project and helped guide them through the requirements for Low-Income Housing Tax Credits. We are proud to see this project get underway to meet the needs and demand in our community.”
Developed by Willow Partners, LLC, Gateway Villas will have a two-story garden style layout, a children’s play area, pool and community room. Resident activities will be provided in the community room at no cost, including an after-school program offering youth mentoring and homework assistance that is being offered in partnership with the City of Kerman Department of Parks and Recreation.
Financing for the development includes Low Income Housing Tax Credits issued by the California Tax Credit Allocation Committee, tax credit equity from CREA, construction financing from Mechanics Bank, the County of Fresno Community Development HOME funds, a fee waiver and land donation from the City of Kerman, and a USDA guaranteed loan.
The units are provided to residents having incomes ranging from 30-60% of the Fresno County Area Median Income. The facility is expected to open in Summer of 2021.