Nestor Senior Village is an exceptional and forward-thinking housing community in San Diego, California, featuring 73 studio apartments designed for seniors aged 55 and older who are homeless or at risk of homelessness (including 35 units for homeless seniors with serious mental illness).
Klein Hornig served as lead transaction counsel assisting our client, National CORE, as it navigated its partnership with the church ground lessor and negotiated financing, including HOME loans, FHLB AHP funding, California Department of Housing and Community Development financing, loans from the San Diego Housing Commission, LIHTC 9%, and other construction and permanent loans.
Nestor Senior Village transforms previously neglected land, owned by the Nestor United Methodist Church, into premium apartment homes and 4,000 sq. ft. of community space, including a community room and private offices for management. Residents of Nestor Village enjoy long-term, community-based housing with high quality supportive services.
