NeighborWorks Capital funded a $3,612,500 acquisition loan with People’s Self-Help Housing Corporation (PSSH) in October of 2020. This loan will finance the acquisition of a 5.22-acre property in Oxnard, California. The proposed project is a new construction affordable multifamily project of 150 units among two buildings targeted to large family households. 100% of the units will be affordable, targeted to households between 30-80% of Area Median Income. Depending on the final financing mix some units may be set aside for farmworker families, or homeless/other special-needs households. The site is identified by the City of Oxnard Housing Element as a targeted affordable housing site, indicating alignment between the Project and the city’s planning priorities.
As 10,000 people a day turn 65 in the U.S., the need for