Hillcrest Hall

About the project

Founded in 2009, Castellan Real Estate Partners' mission is to provide quality communities that are safe, secure, and affordable for low-income working families, seniors, veterans, homeless persons, young people transitioning out of foster care, and all people facing housing affordability challenges.

Castellan Housing’s portfolio is currently focused in San Diego, Southern California, New York, New Jersey, and Pennsylvania.

LISC provided $7.23 million of acquisition financing for a new construction, LIHTC multifamily development in the Hillcrest neighborhood in northern San Diego. The 100% affordable building will include a mix of one-, two- and three-bedroom units and numerous community amenities such as picnic area, playground and a computer room. The borrower is partnering with Central Valley Coalition for Affordable Housing to provide adult education classes to residents. Additionally, the building will have solar panels to reduce its carbon footprint and lower energy costs.

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