Boston Capital Invests in Affordable Multifamily Community in Vista, Calif.
Boston Capital is investing in the construction of Paseo Pointe, a 69-unit development for families located in Vista, Calif. The development will be built with tax credit equity from the Low Income Housing Tax Credit (LIHTC) program. The developer is Affirmed Housing, based in San Diego.
"Paseo Pointe represents Boston Capital's 18th investment with Affirmed Housing," said Jeff Goldstein, chief operating officer and director of Real Estate at Boston Capital. "Boston Capital's commitment to the creation of high-quality, affordable apartment communities is the key to our success and Paseo Pointe is another example of that commitment."
The construction of Paseo Pointe will generate $7 million in local salaries and create more than 100 new jobs in the Vista area. Boston Capital's investment in the development adds 69 units of affordable housing to its apartment portfolio. To date, Boston Capital has invested in more than 13,050 units of affordable housing in California.
Allison E. Marino,
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