Juniper Apartments provides critically needed affordable housing for low- and moderate-income families in Manteca, California. With its highly visible location in a neighborhood that is still growing, the property’s attractive design makes it indistinguishable from market-rate rental communities. Completed in 2012, this 153-unit multifamily property consists of nine two- and three-story wood frame buildings with walkup flats. The community building includes an entertainment room, fitness center, and computer room, and the grounds provide residents access to a swimming pool, playground, and barbecue area.
Land acquisition and construction of Juniper Apartments was financed in part with a permanent senior tax-exempt bond purchased by the California Community Reinvestment Corporation (CCRC) and a soft subordinate loan from the Manteca Redevelopment Agency. CDT purchased this mortgage loan as part of a portfolio purchase from CCRC in 2014.