LIIF Invests to Turn Vacant Land into Nearly 400 Affordable Housing Units in Bay Area
LIIF recently closed a $5.95 million acquisition and predevelopment loan to AMCAL affordable housing developers for the Antioch Apartments in Northern California’s East Bay. LIIF’s loan refinanced AMCAL’s purchase of 14 acres of vacant land in Antioch, CA, to develop a 394-unit affordable housing project dedicated to families and seniors earning 50-60% of Area Median Income.
This large project will provide much-needed affordable housing in the Bay Area. Recreational and social services including adult education, health/wellness and after-school programming will be provided on-site for the residents. The project is located near the freeway on-ramp and close to the Bay Area Rapid Transit (BART) station for easy access to jobs, schools and other amenities.