Loan Amount: $5,000,000
Developer: Newport Partners, LLC
The Newport at the Rodeo Apartments is a proposed 77-unit multifamily development providing 77 affordable housing units (100% of total) restricted to tenants with household incomes not exceeding 60% of the area median income, featuring one, two, and three-bedroom units in seven three-story buildings. It targets low-income families, offering stability through affordable rentals. The property is unique with eight project-based Section 8 vouchers and focus on community integration.
Units: 77