14th and Raleigh | Portland, OR
Located on the northern edge of the Pearl District neighborhood in northwest Portland, 14th and Raleigh is a newly constructed, 93-unit family LIHTC development. The 12-floor property has 40 units that are set aside for homeless individuals and families. The ground floor will feature a parking garage along with a large lobby and approximately 650 square feet of retail space envisioned as a coffee shop. Community amenities, which include a bike storage room, community room, common laundry facility and both indoor and outdoor play areas, are located on the second floor. The third-party market analyst determined that the subject’s units will have an average rental rate advantage to market of 42%. The property will offer supportive services to tenants. A Resident Service Coordinator will be on to provide direct services and resource referrals to all tenants. Services include eviction prevention, financial education and credit repair, food security, mental health services, workforce skills development, youth engagement and academic assistance. Total development cost is $34 million, with Raymond James investing $12 million.
Isabella Court | Vancouver, WA
Isabella Court is a $12 million, four-story development in Vancouver. The newly constructed, 49-unit property allows senior tenants (ages 62 and up) to remain in their local neighborhood. Raymond James supplied nearly $5 million of equity to support this great addition to the Vancouver community.
John Burton Foundation Housing Complex | San Francisco, CA
John Burton is a $30 million, 50-unit multifamily apartment community currently under construction in the Bay Area’s Lower Pacific Heights neighborhood. Raymond James provided $11 million of equity. The development has set-asides for transitional-age foster youth, and supportive services will be provided by the Booker T. Washington Community Service Center.
Millenia Family & Senior | Chula Vista, CA
Located nine miles southeast of San Diego, the Otay Ranch area of Chula Vista has been developed over the last decade. Millenia Senior and Millenia Family will be built on a combined 2.72-acre site that is currently flat, undeveloped land. Millenia Family will feature 87 units designed to serve large families. The five-story project will feature community amenities on the first floor. The property will share a two-story parking garage with its sister property, Millenia Senior, a proposed 123-unit LIHTC property restricted to seniors. The development will have matching façade throughout its senior, family and parking structures to allow for a contiguous, single-development appearance. The property also will provide courtyard and outdoor recreational areas at its center. Total development cost is $68 million with Raymond James investing $29 million.
Mosaic Gardens at Westlake | Los Angeles, CA
Mosaic Gardens is a $57 million, 125-unit project being developed in the Westlake neighborhood of Los Angeles. The complex will house both family and senior tenants with an additional set-aside for homeless tenants. Supportive services will be provided by LINC Cares and Ocean Park Community Center. Raymond James provided $30 million to support this great addition to the Los Angeles community.
Palouse Trails | Spokane, WA
Palouse Trails is a $16 million, new construction, multifamily apartment community currently under construction. Of the 114 units being developed, 23 units will be set aside for persons with disabilities, and 23 units will be set aside for large households of four or more people. Supportive services for disabled tenants will be provided by the Spokane County Community Services Support Living Program. Raymond James provided $11.5 million of equity to support the Spokane community.
Francis Village | Kirkland, WA
Juniper Village | Reno, NV
Westcliff Pines II & III | Las Vegas, NV