Information about http://www.calhfa.ca.gov/about/publications/press-releases/2008/pr2008-04.pdf

FOR IMMEDIATE RELEASE Contact: Melissa Flores Phone: 916.324.4647 Fax:…

Tags: area median income, ca gov, calhfa, california housing finance agency, californians, exercise room, exterior windows, household incomes, housing finance agency, income seniors, kitchens and bathrooms, long term loans, mechanical systems, melissa flores, northwest corner, parking garage, residential units, rise towers, senior housing, service kitchen,
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Created: Fri Jan 18 13:30:14 2008
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FOR IMMEDIATE RELEASE
Contact: Melissa Flores
Phone: 916.324.4647
Fax: 916.322.2345
mflores@calhfa.ca.gov
www.calhfa.ca.gov


           CalHFA Commits $9.6 Million to Preserving Affordable
                    Senior Housing in San Francisco

SACRAMENTO, January 22, 2008 ­ An existing high rise, Alexis Apartments, in downtown

San Francisco will soon receive extensive renovations in order to preserve housing for 206 low

income seniors. The California Housing Finance Agency (CalHFA) Board of Directors has

approved $9.6 million in long term loans which will allow the owners to protect the rental

affordability and serve seniors with household incomes at or below 80% of area median income.

A vast majority of the seniors, who are currently and will continue to reside in the complex, have

household incomes below 50% of area median income.



Built in 1973, the Alexis Apartments complex consists of two interconnected 14-story high rise

towers, separated by an enclosed parking garage on the ground level. Each tower contains 103

units and is connected on the second floor by common areas including exercise room, computer

room, reading room, and dining/community room with a full service kitchen. The complex is

located in the South of Market District on the northwest corner of 5th and Clementina Streets.



Renovations to the building will include replacement of exterior windows, upgrading mechanical

systems, repair of roofing and exterior painting. Additional repairs and upgrades will be

                                             - more -
completed in all common areas. Modernization of residential units will include the complete

renovation of kitchens and bathrooms, replacement of lighting and flooring, and updating

electrical and safety equipment. The work is scheduled to begin in February 2008 with an

anticipated completion date of August 2009.



The California Housing Finance Agency was created in 1975 with the goal of helping more

Californians live in a home they can afford. CalHFA's Multifamily Division has invested $1.4

billion for the construction and preservation of more than 33,000 affordable rental housing units

to assist very low and low income Californians. For more information on Multifamily Loan

Finance programs and the full complement of CalHFA programs, visit www.calhfa.ca.gov or call

toll free 877.9.CalHFA (877.922.5432).




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