Castellan Real Estate Partners

Castellan Capital recently closed a $32,000,000 construction completion loan for an 83,080-SF condo project, in Rolling Hills Estates, California. #castellancapital #bridgelending #bridgeloan #directlender #acquisitions #castellan #castellanrealestatepartners #loans #property #loan #realestate #properties #investment

CRP Affordable Housing and Community Development was excited to celebrate the groundbreaking last month for The Bluffs at 44th in the City of Capitola. The 36-unit development will provide affordable housing for families and individuals earning 30-80% of the Area Median Income. 58% of the units will be 2- or 3-bedroom units, which are ideal for low-income families. To enable deeper affordability levels, the HOUSING AUTHORITY OF THE COUNTY OF SANTA CRUZ committed to providing 25 project-based vouchers for this development. These voucher units will be reserved for top applicants on HACSC’s HCV waiting list. In addition to being the permanent lender and bond issuer, California Housing Finance Agency provided $2.1M of capital funding through its Mixed Income Program. We appreciate all of the attendees who came out to celebrate the groundbreaking of this exciting project and we would especially like to thank the following representatives for speaking at the event: City of Capitola, Mayor Kristen Brown City of Capitola, Jamie Goldstein HACSC, Rayne Perez CalHFA, Kevin Brown JP Morgan Chase, Justin Chen Low Income Investment Fund, Pam Berkowitz We’d also like to express our appreciation to Congressman Panetta’s office for presenting CRP with a certificate commemorating the occasion and positive impact on the community. Congressman Panetta’s commitment to housing across his district and the country is evidenced by his recognition as the AHTCC’s 2023 Affordable Housing Champion. We’re eager to complete construction and celebrate the ribbon cutting after residents have moved in to this much-needed housing. Thank you to all who have welcomed new affordable housing in this beautiful community, and we look forward to providing more in the Santa Cruz County. #affordablehousing #california #californiahousing

Last week, Abode and CRP Affordable Housing and Community Development hosted a groundbreaking ceremony for Eucalyptus Grove Apartments in the City of Burlingame. The 69-unit development will provide affordable housing for families and individuals earning 20-50% of the Area Median Income. 60% of the units will be 2- or 3-bedroom units, which are ideal for low-income families. Thanks to the Veterans Housing and Homelessness Prevention Program (VHHP) funding administered by HCD and CalVet, along with project-based vouchers administered by Department of Housing - DOH- County of San Mateo, 25% of the units will be dedicated as permanent supportive housing for homeless veterans. In addition to all of the attendees who came out to celebrate the groundbreaking of this exciting project, we would especially like to thank the following representatives for speaking at the event: Abode, Louis Chicoine City of Burlingame Vice-Mayor Emily Beach San Mateo County, Supervisor Dave Pine CalVet, Kevin Graves Enterprise Community Partners, Geeta Rao We are excited to continue construction and look forward to celebrating a ribbon cutting with future residents and all of those involved that have made this development possible.

Last month, CRP Affordable Housing hosted a groundbreaking ceremony for the Pardes 1 Apartments in partnership with the City of Elk Grove. Pardes 1 represents the initial chapter of a two-phase development that will deliver 236 affordable housing units to the city of Elk Grove. The 96-unit first phase will provide affordable housing for families and individuals earning 30-80% of the Area Median Income. We would like to extend our gratitude to the representatives of Pacific Southwest Community Development Corporation CDC, the City of Elk Grove, Housing Trust Silicon Valley, Sacramento Housing and Redevelopment Agency, CREA, LLC, and Citi Bank for attending and speaking at the event. Lastly, we would like to thank our partners in the project Harley Ellis Devereaux (HED), Ironcore Construction LLC, and TSD Engineering, inc. Your commitment to excellence and attention to detail will undoubtedly shape this project to fruition. #GroundBreaking #ElkGrove #Construction #sustainability #affordablehousing #housing #crpaffordable #housingamerica #housingforall #development #housingprices #realestate #finance #property #housingjustice #economicdevelopment #newhomes #community

CRP Affordable Housing and Community Development, in collaboration with Pacific Southwest CDC, is proud to share that we have closed on financing for another 100% affordable housing community, The Bluffs at 44th. This 36-unit project is located in Capitola within Santa Cruz County and in a Highest Resource area. These homes are reserved for those earning between 30% and 80% of the area median income, in which tenants will benefit from nearby retail, local transit, and public recreation areas. We would like to first thank the City of Capitola, California for welcoming CRP to their city. Both the city’s Building Department and Community Development Department supported our team through the entire process. We are grateful for the HOUSING AUTHORITY OF THE COUNTY OF SANTA CRUZ’s award of 25 Project-Based Vouchers dedicated to extremely low-income individuals and families within Santa Cruz County. This project would not have been possible without the Housing Authority of the County of Santa Cruz and we look forward to their partnership in the Bluffs and all future projects. California Housing Finance Agency (CalHFA) provided subordinate financing through their Mixed-Income Program (MIP). CalHFA is also providing the permanent debt for this project following construction completion. This project would not have been possible without the coordination with CalHFA. 

Low Income Investment Fund contributed predevelopment financing that ensured the feasibility of development through construction loan closing. We would also like to thank Candeur Group, LLC, and JPMorgan Chase & Co. for providing LIHTC equity and construction financing, respectively. We would also like to extend our gratitude to our valued partners at Cambridge Real Estate Services, STUDIO T-SQ, Ironcore Construction LLC, BKF Engineers and all others who contributed to this project.

CRP Affordable Housing & Community Development prides itself in building financially accessible housing, while simultaneously cultivating sustainable communities. 

#affordablehousing #housing #castellan #crpaffordable #housingamerica #housingforall #urbanplanning #development #housingprices #realestate #castellanrealestatepartners #castellancapital #finance #property #housingjustice #economicdevelopment #sustainability #construction #newhomes #community #project #capitola

Happy Holidays! Wishing you and your family peace, health, & happiness in the coming new year #happyholidays #happynewyear2024 #castellan #castellanrealestatepartners

Wishing you a very Happy Thanksgiving. We’re thankful for your continued partnership with us! #thanksgiving #thanksgiving2023 #castellan #castellanrealestatepartners

Happy Labor Day #laborday #laborday2023