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HUD Preservation Round Two: Ensuring the Long-term Financial, Physical, and Environmental Sustainability of a LIHPRA Property

Los Robles Apartments is a 76-unit, multifamily, affordable development located in the city of Vista in San Diego County. The property was built in 1974 using a (HUD) Section 236 subsidized mortgage. By 1996, the for-profit owner of Los Robles was considering converting the development to market-rate. Community Housing Works (CHW) stepped in and helped residents work with HUD to purchase the property using provisions of the Low-income Housing Preservation and Resident Homeownership Act (LIHPRHA). Union Bank assisted with the financing.