New Closing – Templeton Place II

December 7, 2020

Merritt provides $9.3 million in equity to People’s Self Help Housing to create 36 new units in Central Coast California, including 5 permanent supportive housing units for Veterans experiencing homelessness, 5 units for low-income Veterans and 25 units for very low and low-income households

New Closing – Templeton Place II

Congratulations to People’s Self Help Housing (PSHH) on the financing closing for Templeton Place II – which will bring 36 new units of affordable housing for homeless Veterans and low-income households to Templeton, CA. Templeton Place II will provide critically needed permanent supportive housing to 5 homeless Veterans households and 30 very low and low-income individuals and families in San Luis Obispo County, along with on-site supportive services provided by PSHH and the US Department of Veteran Affairs through the VASH program.

Merritt Community Capital Corporation is proud to provide $9.3 million in tax credit equity capital to this critically needed development in Coastal California. Thank you as well to our financing partners at Pacific Western Bank, County of San Luis Obispo, California Department of Housing & Community Development, San Luis Obispo Housing Trust Fund, Federal Home Loan Bank of San Francisco, and NeighborWorks. Templeton Place II is expected to complete construction in Summer 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 Templeton Place II, at time during the Covid-19 pandemic when the tax credit equity market was dramatically volatile, while providing PSHH with a partner committed to the particular needs of a nonprofit sponsor focused on its long-term mission.

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



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