Breaking Ground on Sequoia Commons in Goshen

On December 28, SHE will began construction for the new Sequoia Commons –a 66-unit affordable rental community in Goshen. The rental project is phase I of a two-phase project located on the 6.85-acre multifamily parcel at the southwest corner of Riggin and west of Road 76, and will include 22 one-bedroom units, 22 two-bedroom units, and 22 three-bedroom units. Its’ amenities will consist of a community building of nearly 3,072 square feet, and an outdoor common area with a playground, barbecue pit and picnic tables. The community building will include a large community room with a kitchen and bathrooms, a laundry facility, computer lab, and a separate management office.

The project will serve working families at or below 50% AMI with rents ranging between $248 and $810. In addition, Sequoia Commons will include 100% solar PV to offset common area and resident loads, and water conservation/efficiency measures. Self-Help Enterprises will offer a robust program of on-site Resident Services, including job training, health and medical services, financial training and homebuyer education.

This project is being financed through a combination of Affordable Housing and Sustainable Communities (AHSC) program funds via California’s Cap-and-Trade proceeds, HOME Investment Partnership Program funding from the Housing and Community Development Department (HCD), private equity raised through the federal low-income housing tax credit program, Affordable Housing Program (AHP) funds through the San Francisco Federal Home Loan Bank, sponsored by Central Valley Community Bank and a Valley Air Loan through the San Joaquin Valley Air Pollution Control District. The AHSC program is administered through a partnership between the Strategic Growth Council and HCD. Construction loan financing is provided by Pacific Western Bank. Tax credit equity is being provided through Red Stone Equity Partners