New Closing – Calms at Burgess Point Apartments

August 25, 2021

Merritt provides $7.6 million in equity to Solano Affordable Housing Foundation to recapitalize and rehabilitate 56 affordable units in the Bay Area as low income housing for families.

Calms at Burgess Point Apartments

Congratulations to Solano Affordable Housing Foundation (SAHF) on the financing closing for Calms at Burgess Point – which will rehabilitate 56 units of affordable housing for low-income families in Benicia, CA. Burgess Point will include on-site services provided by LifeSTEPS.

Merritt Community Capital Corporation is proud to provide $7.6 million in tax credit equity capital to this critically needed development in Solano County. Thank you as well to our financing partners at Bank of the West, Citibank, and the City of Benicia, Benicia Housing Authority, and California Housing Finance Agency. Burgess Point is expected to complete construction in mid-2022.

As California’s nonprofit housing tax credit syndicator, Merritt is dedicated to working with mission aligned developers to fill gaps in the market to make the most challenging affordable housing projects possible. Merritt was critical to providing equity to a BIPOC-led community-based organization in order to recapitalize Burgess Point, ensuring its long-term affordability and stability. Merritt is proud to provide our long-term partners at SAHF with an equity investment backed by a team dedicated to its long-term nonprofit mission.

Contact David Dologite – Director of Acquisitions to learn about Merritt’s equity solutions for your project.



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