Congratulations to Rural Communities Housing Development Corporation (RCHDC) on the financing closing for Pine Hill Village – which will bring 30 new units of affordable housing for homeless and low income households outside Eureka, CA. Pine Hill will provide sorely needed permanent supportive housing to 14 homeless households and 15 very low income individuals and families in Humboldt County, along with wrap-around on-site supportive services provided by Humboldt County Department of Health and Human Services. Merritt Community Capital Corporation is proud to provide $6.7 million in tax credit equity capital to this critically needed development in rural Northern California. Thank you as well to our financing partners at JP Morgan Chase Bank, California Department of Housing & Community Development, and the County of Humboldt. Pine Hill is expected to complete construction in Spring 2022.
As California’s nonprofit housing tax credit syndicator, Merritt is dedicated to working with like-minded developers to fill gaps in the market to make the most challenging affordable housing projects possible. Merritt was critical to providing equity for Pine Hill in a rural under-served area while providing the sponsor with a partner committed to providing access to permanent supportive housing in all parts of California.
Contact David Dologite – Director of Acquisitions to learn about Merritt’s equity solutions for your project.