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.
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
