New Closing – River City Senior Apartments

September 21, 2020

Merritt provides $16.1 million in equity to PEP Housing’s River City Senior Apartments to create 54 new units affordable to low-income seniors in Petaluma.

River City Senior Apartments sketch

Congratulations to PEP Housing on the financing closing for River City Senior Apartments – which will bring 54 new units of senior low income housing to Petaluma, including 15 units for homeless senior veterans and 19 units for homeless seniors in Sonoma County, with supportive services from Petaluma People Services Center. Merritt Community Capital Corporation is proud to provide $16.1 million in tax credit equity capital to this critically needed development. Thank you as well to our financing partners at Silicon Valley Bank, California Community Reinvestment Corporation, City of Petaluma, City of Santa Rosa Housing & Community Services, Sonoma County Community Development Commission and the Federal Home Loan Bank of San Francisco.



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