February 26, 2025-Oakland, CA
Merritt Community Capital Corporation had its final fund closing for Fund 25–closing at $100 million!
Fund 25 currently finances 7 projects, creating 486 affordable homes across California. This fund has 9 investors with one new investor and 8 returning. Merritt is grateful for our strong partnerships that have allowed us to bring more homes to Californians across the state.
Merritt prioritizes partnerships with mission-aligned housing developers to create and preserve affordable homes for underserved populations. We work with partners that share Merritt’s vision of everyone having a home in a community where they can thrive.
“Preserving existing affordable rental housing is a crucial component of a comprehensive strategy to address the housing affordability crisis. Thanks to the steadfast support of our public and private partners like Merritt, we have revitalized a community where families can build stable, fulfilling lives,” shared Ted Miyahara, Executive Director of San Diego Community Housing Corporation. “By providing safe, healthy homes and fostering economic stability through resident services and community partnerships, we are helping to address the challenges that working families face today.”
Fund 25’s properties span across 7 counties in California. Of these 7 projects, 134 are special needs units to support the specific needs of the communities. 36% of these units are for seniors and 44% of these units are for families. 41% of these units are between 31%-50% of the Average Median Income (AMI) and 44% of units are at 30% AMI or lower.
“Community West Bank is honored to partner with Merritt Community Capital Corporation by investing in Fund 25. This important fund supports the efforts of Self-Help Enterprises and its affordable housing community, Santa Fe Commons II, being developed in Tulare, California – a region and population in which we have long invested,” said Shannon Livingston, Executive Vice President, Chief Financial Officer. “Organizations like Merritt and Self-Help Enterprises transform lives by building stronger communities, a philosophy shared and upheld by our Company throughout its 45-year history.”
At the end of 2024, Merritt announced Carla Vásquez-Noriega’s promotion to Senior Investor Relations Manager. Fund 25 is Carla’s first fund she closed as our Investor Relations lead. Congratulations, Carla!
“It’s a tremendous honor to close the fund that marks Merritt’s 35th year investing in affordable housing in California. With support from our investors, we were able to contribute to seven communities across the state, spanning over 550 miles between the northernmost and the southernmost project in the fund,” shared Senior Investor Relations Manager, Carla Vásquez-Noriega. “In Fund 25, we chipped away at the tight housing markets in Los Angeles and San Jose, supported farmworkers in Tulare, and returned to the resilient (and still rebuilding) community of Paradise, CA. We are grateful to our mission-aligned partners who want every Californian to have a home in a community where they can thrive.”
Thank you to all our partners, new and continued, for joining us in creating and closing Fund 25! Merritt believes in the power of investing in housing and people to build a stronger California.
Merritt is actively seeking investors for Fund 26 and investors for Proprietary Funds! We invest in affordable housing and people to build a stronger California.
Please contact Merritt’s Senior Investor Relations Manager, Carla Vásquez-Noriega
[email protected], to invest equity capital or David Dologite, Director of Acquisitions, at [email protected] for project investment capital.
About Merritt Community Capital Corporation
Merritt Community Capital Corporation is a nonprofit dedicated to our mission to provide equity capital for affordable housing exclusively to California. We do this by partnering with mission-aligned affordable housing developers throughout the state to ensure the most critical communities are developed and maintained for low-income residents. Since 1989, Merritt has created and/or preserved over 12, 000 affordable homes, through investing over $1.6 billion, providing housing for over 30,000people.