Wakeland Housing Development Corporation (Wakeland), a San Diego-based nonprofit housing developer, used financing from LIIF and Enterprise Community Loan Fund to preserve affordable housing for low income residents at Juniper Gardens. LIIF used Capital Magnet Funds to provide credit enhancement for its portion of the loan. All of the units at Juniper Gardens receive Section 8 rental assistance. With LIIF’s financing, Wakeland acquired and rehabilitated the existing buildings. In addition to upgrades to the apartments, Wakeland is buliding a new 1,600-square-foot, solar-powered community center and a playground on the property. Juniper Gardens is located in the low income City Heights neighborhood of San Diego.
- 40 affordable housing units preserved
Solar powered community center
- $5.6 million acquisition loan with Enterprise Community Loan Fund
$650,000 Capital Magnet Fund credit enhancement
- Enterprise Community Loan Fund
- Wakeland Housing Development