OCEANSIDE, Calif. – National Community Renaissance, one of the largest nonprofit developers of affordable housing in the United States, has been awarded a Wells Fargo UrbanLIFT Community Grant for its Mission Cove development in Oceanside.
Wells Fargo today announced a total of $11.4 million in UrbanLIFT grants to help strengthen neighborhoods in 25 metropolitan statistical areas.
“These grants will help advance economic development in cities that were significantly impacted by the housing downturn,” said JK Huey, senior vice president of asset management and preservation with Wells Fargo Home Lending Servicing.
Mission Cove Apartment Home Community, on Mission Avenue will include 288 apartment homes for low-income families and seniors, veterans and special needs populations Plans also include a retail shopping plaza, community center, garden area, walking paths, tot lots and open space. The site is 14.5 acres
“We’re extremely grateful for Wells Fargo’s commitment to this important project,” said John Seymour, vice president of acquisitions for National Community Renaissance. “Especially with the loss of (California) redevelopment financing, projects such as this have become very difficult to finance.”
National CORE, based in Rancho Cucamonga, Calif., manages nearly 9,000 housing units across four states. During the past 20 years, its Hope through Housing Foundation subsidiary has provided more than 2 million hours of aligned social services for residents and surrounding neighborhoods.
CONTACT: Steve Lambert, The 20/20 Network