California Affordable Development Lands $40M

Shiloh Crossing rendering. Image courtesy of Walker & Dunlop

Corporation for Better Housing and Integrated Community Development have received $40 million in construction financing for Shiloh Crossing, a 171-unit fully affordable community in Windsor, Calif., in Sonoma County. The community is designated for residents earning between 30 and 70 percent of the area median income.

Alliant Capital, a company owned by Walker & Dunlop, closed on the financing through the syndication of Low-Income Housing Tax Credits. Senior Vice President Dudley Benoit and Managing Director Jennifer Erixon led the Alliant team.

The development will comprise two buildings also including 8,000 square feet of commercial space. The North Building will include 130 apartments, while the South Building will consist of the remaining residential units, administrative offices, community space and two commercial spaces. The property will encompass studio, one-, two- and three-bedroom floorplans ranging between 576 and 1,079 square feet. The community will offer a swimming pool, community room and bocce court.

The development will be located in northern Sonoma County, at 295 Shiloh Road. The buildings will sit on a 5.9-acre site, near Route 101. Charles M. Schulz-Sonoma County Airport is 3.5 miles away. Several dining options, retail centers and green areas such as Shiloh Ranch Regional Park are within a 2-mile radius of the development.

Alliant Strategic Development recently broke ground on four communities across San Fernando Valley. The developments will comprise more than 700 units, which will include market rate and affordable apartments.