- As the lead agent bank, U.S. Bank arranged $135 million in financing for the development of a student-housing complex in a once blighted area near the University of Southern California’s campus. Located in a low-income area, SBA HUB zone, state enterprise zone and a California Redevelopment Project Area, the project establishes a medical health facility to serve the local public, creates 25 units of affordable housing, and will employ local residents and at-risk youth, as well as establish a loan fund for local small business.
- U.S. Bank provided $30 million in financing for the rehabilitation of a 1900s office building in downtown Los Angeles. The project created 178 new market-rate apartments and was purchased by the developer as a result of the Adaptive Reuse Ordinance which has helped to convert older economically distressed or historically significant buildings for new uses. The project is in a revitalization plan zone and a low-income tract helping to redevelop a historic core area in Los Angeles.
- U.S. Bank provided a $10.4 million for the new construction of a 98 units for seniors with an additional 10 percent set aside for at risk homeless seniors in Panorama City.
Southern California Association Of NonProfit Housing Honors U.S. Bank For Its Commitment To Funding Affordable Housing
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