KINGS RIVER COMMONS
Kings River Commons is a new construction property in Reedley, California completed in October 2014 consisting of 60 rental apartments in 7 two-story residential buildings containing two- and three-bedroom homes. Supportive services and resident functions are provided in the one-story community building. The project is restricted to households with incomes between 30 percent and 50 percent of Area Median Income (AMI) with rents restricted to limits of the Low-Income Housing Tax Credit (Housing Credit) program.
A service coordinator is available part time at the property and services include adult education, health & wellness, and skill building classes, computer literacy and/or other services as appropriate to the resident needs and desires. The property maintains an occupancy rate of near 100 percent.
The site is within 1 mile of Save Mart Super-market, Rite Aid Pharmacy, Silas Bartsch school, and is within two miles of a medical clinic. The site is across the street from the 49-acre City of Reedley Sports Park, a public park with soccer fields, football fields, youth base-ball fields, a playground structure, picnic tables and barbecue, covered pavilion, a concession facility, and restrooms.
This property was financed using the Low-Income Housing Tax Credit (Housing Credit) with the equity provided by R4 Capital, as well as County of Fresno HOME funds, Housing Relinquished Fund Corporation Funds (subsidiary of Fresno Housing Authority), Affordable Housing Funds (AHP) and a conventional loan. The development team was comprised of the Housing Authority of Fresno County, Affordable Housing Development Corporation (AHDC) and Mogavero Architects, provided architectural and design services.