Lincoln and Orange Grove

Pasadena, CA (2020)

Lincoln and Orange Grove

Affordable Housing, Community, Housing, Mixed-use, Workforce Housing

The construction of a 67,732 sq. ft. four-story mixed-use project in Pasadena, California that includes 22 low-income, 13 moderate-income, and 11 workforce housing units, 6,167 SF of commercial space, 3,850 SF of office space, and a 380 SF community room.

Investment

NMTC Amount: $12,500,000
Total Project Cost: $37,771,673

IMPACT

25 FTE jobs
142 construction jobs
67,732 sq. ft. of real estate

CDEs

Genesis LA CDE, USBCDE

Investor

US Bank

Project Description

This transaction will finance the construction of a 67,732 sq. ft. four-story mixed-use project in Pasadena, California that will include 22 low-income, 13 moderate-income, and 11 workforce housing units, 6,167 sq. ft. of commercial space, 3,850 sq. ft. of office space, a 380 sq. ft. community room, and 138 subterranean parking spaces. Low-income, moderate-income, and workforce units are available to buyers earning up to 80%, up to 120%, and up to 150% of the area median income, respectively.