Ascencia Commons
About the project
The Metropolitan Area Advisory Committee on Anti-Poverty of San Diego, Inc. (MAAC) is the leading provider of comprehensive social services in San Diego County in five key areas: Economic Development, Education, Health & Well-being, Housing and Advocacy & Leadership Development. MAAC believes that by investing in tomorrow’s leaders, we create stronger, more vibrant communities where individuals and families can thrive. MAAC was founded in 1965 as the Metropolitan Area Advisory Committee on Anti-Poverty of San Diego County, Inc.
MAAC serves the Greater San Diego Metropolitan Area in San Diego County.
LISC provided a $2.36 million acquisition loan to support the development of a new construction, 180-unit building in the Southern Gateway District of Escondido. The building will include 178 affordable units, including 19 units set aside for households making no more than 30% AMI, plus two managers units. The project will incorporate energy efficient features such as Energy Star appliances and insulation. Additionally, the building's community room will operate as a "cool zone" on hot days to encourage further energy savings. Additionally, residents will be provided services assisting with economic stability and improvement. LISC's loan was partially financed with a gift from Mackenzie Scott and funds from the CDFI Fund's Equitable Recovery Program. Bluehub participated in the LISC loan, providing an additional $2.10 million in financing.
Partner:
Metropolitan Area Advisory Committee on Anty-Poverty of San Diego, Inc.
Location:
Escondido, CA
Total Investment:
$2.36 million
Results:
180 units
Project Category:
Affordable Housing
Specialized Funding Source:
Mackenzie Scott; CDFI Fund Equitable Recovery Program
Product:
Acquisition loan
Website:
UN SDGs:
