Lowden Lane
Affordable Housing Development Corporation (AHDC) together with our partner Central Valley Coalition for Affordable Housing (CVCAH) have partnered on a low income, senior, age restricted apartment community, located at 2775 Lowden Lane known as Lowden Lane Senior Apartments located Redding, California. The development contains 61 units of low-income affordable housing serving income and age qualified residents in Redding and the surrounding areas. The proposed development will include 53 one-bedroom and 8 two-bedroom units including a manager’s unit. The Project has a resident center that includes a fully furnished community/meeting room, a kitchen, restroom facilities, and multiple office spaces. In addition, there is a separate laundry room and exercise room for the residents. The development also provides natural and recreational open space with a network of walkways and plazas connecting the site, along with barbeque/picnic areas for the residents. 100% of the units are rent restricted for qualified residents with income ranging from 30% to 60% of the area medium income for a 55-year affordability period.
Lowden Lane Senior Apartments was financed in part by 9% federal and state tax credits. Other funding sources include: the City of Redding CDBG-DR funds, Redding Housing Authority Project Based Section 8 Vouchers, and State of California (HCD) Infill Infrastructure Funds (IIG). Other financing partners include: Wells Fargo Bank (construction lender), R4 Capital (tax credit syndicator), and Berkadia (Permanent Lender). Construction was completed winter of 2023.