Community Housing Improvement Program (CHIP) | East of Eaton

Share This Post

NeighborWorks Capital is pleased to extend a $19,000,000 construction loan, in participation with Century Housing, to the Community Housing Improvement Program (CHIP). The funds will be used to rehabilitate the East of Eaton townhome community in Chico, CA.

East of Eaton townhome community in Chino, CA

East of Eaton has not had a significant rehabilitation since it was originally constructed in 1992. Major improvements in this renovation will address safety and accessibility needs like repairing sidewalks as well as critical repairs for roofs, windows, walls, kitchens and baths, lighting, and plumbing. The improvement plan also includes upgrades to community landscaping, a playground, and dog park.

As part of their mission to promote safe, healthy, sustainable, affordable housing in their service area, CHIP will use an innovative funding program from CA-HCD, the Portfolio Revitalization Program (PRP), to substantially rehabilitate the property. This will preserve 76 affordable housing units and allow CHIP to continue to provide this quality, affordable housing option at well below market rental rates.

CHIP is based in Chico, California and provides healthy, sustainable, affordable housing to qualified residents in seven Sacramento Valley counties: Butte, Colusa, Glenn, Shasta, Tehama, Yuba, and Sutter. CHIP has built over 2,000 single-family homes and over 700 rental homes and apartments in their service area and is acknowledged as an innovator and leader in affordable housing issues in rural and urban areas. Their major lines of business are homeownership creation, rental housing development, property management, and resident services. Through these activities, CHIP is involved in disaster recovery, advocacy, and social justice.

NeighborWorks Capital began our partnership with CHIP in 2015 and has extended 3 other loans to the organization.  We are happy to continue to support their work and grow our partnership with this organization that is widely recognized as an innovator and leader in affordable housing.

Subscribe To Our Newsletter

Stay up to date with NeighborWorks Capital

More To Explore

Announcing Our New Chief Growth Officer, Laura Altomare

We are pleased to announce that Laura Altomare has joined the NeighborWorks Capital leadership team as the organization’s first Chief Growth Officer. Laura has over 25 years of experience in the financial services sector, including nonprofit Community Development Financial Institution (CDFI) leadership and for-profit banking, investment management, and mortgage lending.

Read More »

Director, Green Initiatives

NeighborWorks Capital seeks a Director, Green Initiatives (Director) to build, implement, and manage the organization’s greenhouse gas reduction program. NeighborWorks Capital is a member of Climate United, a broad coalition organized to deploy federal investment from the Environmental Protection Agency (EPA)’s Greenhouse Gas Reduction Fund (GGRF) to support the equitable adoption of green technologies in communities across America, with an emphasis on serving low-income and disadvantaged communities (LIDACs).

Read More »