People’s Self-Help Housing (PSHH) recently closed on a $2,111,000 land acquisition loan to refinance high-cost debt they used to purchase the development site for Skylight Homes in Santa Maria, CA. NeighborWorks Capital’s loan provides PSHH with affordable financing while they move the planned 49-home development through the local subdivision and development approval process. Skylight Homes will be built on a former drive-in movie theater and provide new homes for households earning between 80% and 120% of AMI. The Housing Trust of Santa Barbara County has already funded $900,000 to support the project.
Learn more about NeighborWorks Capital’s competitively priced, fixed-rate loan capital that is available to members of the NeighborWorks network. Visit our lending solutions page for more information.
