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Committee reviews $4 million HOME loan for 103‑unit senior affordable housing in Acres Home
Summary
Housing staff presented a proposed $4,000,000 HOME loan to I Community Foundation/ITEX Group for Retreat at Esther, a 103‑unit senior affordable housing project in Acres Home with a 20‑year affordability period and mixed AMI unit set-asides.
The Housing and Community Development Department presented a proposed HOME loan agreement with I Community Foundation, a subsidiary of ITEX Group, to provide $4,000,000 for the Retreat at Esther, a new-construction senior affordable housing project in the Acres Home neighborhood (corner of Wheatley Street and Esther Drive, ZIP 77088) in Council District B.
The department said the project will create a…
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