Los Robles Apartments and Valentine Court
Los Robles Apartments and Valentine Court are two affordable housing projects for seniors and persons with disabilities, originally built in the early 1990s, that People’s Self Help Housing Corporation has refinanced, funded with new tax-exempt bonds, and rehabilitated. Both of these projects had older HUD HAP contracts and HUD 202 loans that needed to be renewed in order to support the financial restructuring. Working with Mike Rogers Consulting, Housing Tools managed the HAP contract renewal process with HUD and their contractor, LA LOMOD. Our services encompassed financial analysis of the refinancing, rent roll and unit mix analysis, completion and submission of the HAP contract renewal request to LA LOMOD and HUD, and coordination of construction loan closing with all financial partners. The result of this work are 75 units of newly renovated housing and associated amenities for seniors and individuals living with disabilities, with extended long-term affordability restrictions, located in Pasa Robles and Santa Maria. The renovations were completed at the end of 2016.