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Nonprofit Uses Financing Partnerships to Preserve At-Risk Property Despite Competition

Azusa Apartments is an 88-apartment affordable housing development located in Azusa, California, a Los-Angeles area suburb. The property was built in 1971, subsidized by a U.S. HUD Section 236 loan. After the loan reached the end of its 40-year term in 2012, Community HousingWorks stepped in to preserve the development.