PARADISE GARDENS III

Paradise, California 

Paradise Gardens III is a redevelopment project offering housing for low-income seniors. The development is an example of community resiliency after the devastating 2018 Camp Fire destroyed nearly all affordable housing in Paradise, California. The mission to rebuild the Paradise Gardens III community was led by the Impact Development Group. It has brought almost 50 affordable homes back to the community of Paradise. 

More than half of Paradise’s residents are estimated to be seniors, so this development is meeting a special need within the community. Paradise Gardens III has 48 one-bedroom apartments for seniors with incomes of 30 percent AMI or lower. All of the units benefit from a 20-year project-based Section 8 contract.   

Financing for this property was syndicated by Boston Financial, and it was developed by Impact Development Group, utilizing the 9 percent Low-Income Housing Tax Credit (Housing Credit).