Paradise Gardens III Apartments

Paradise Gardens III is the re-build of the apartment complex that was destroyed by the Camp Fire of 2018. 

The property consists of 12 fourplexes and a community building. The construction of Paradise Gardens III contributes to the rebuilding of the Town of Paradise and provides much needed affordable housing for seniors.

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Summary
Name:                               Paradise Gardens III
Location:                          Paradise, California
Property Type:               Senior, 100% Affordable
Total Project Cost:        $13,500,000
Unit Mix:                           48 One Bedroom Units

Date Acquired:                December 30, 2022
Construction Cost:        $7,555,000
Financing Partners:       JPMorgan Chase
                                             Boston Financial
                                             Bonneville Mortgage
Financing:                         Low Income Housing Tax Credits
                                             HUD Housing Assistance Payment Contract