New Closing – Pony Express Senior Apartments

June 11, 2021

Merritt provides $14.2 million in equity to PEP Housing and EAH Housing to create 60 new units in the Bay Area as extremely low income and permanent supportive senior housing for those experiencing homelessness.

New Closing – Pony Express Senior Apartments

Congratulations to PEP Housing and EAH Housing on the financing closing for Pony Express – which will bring 60 new units of affordable housing for extremely low and very low income seniors and seniors experiencing homelessness in Vacaville, CA. Pony Express will include wrap-around on-site supportive services provided by Lutheran Social Services.

Merritt Community Capital Corporation is proud to provide $14.2 million in tax credit equity capital to this critically needed development in Solano County. Thank you as well to our financing partners at Umpqua Bank, California Department of Housing & Community Development (HCD), City of Vacaville, California Community Reinvestment Corporation, and Vacaville Housing Authority. Pony Express is expected to complete construction in late 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 for Pony Express, helping the State of California to address the homelessness crisis and further the goals of California voters, who approved the Veterans and Affordable Housing Bond Act in 2018 and funded the HCD Multifamily Housing Program. Merritt is proud to provide our long-term partners at PEP Housing and EAH Housing with an equity investment backed by a team dedicated to their long-term nonprofit missions.

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



More News

Date Archive