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PRESS RELEASE
FOR IMMEDIATE RELEASE
Yuba County, CA — The California Department of Housing and Community Development (HCD) has awarded $25,342,598 through its Multifamily Finance Super NOFA (MFSN) – Multifamily Housing Program (MHP) Gap Funding NOFA, providing a significant investment in the Serenity Village housing development in Olivehurst, CA.
Serenity Village is a planned family-oriented multifamily community, developed in partnership by Mutual Housing California and Habitat for Humanity of Yuba/Sutter. The development will feature 124 homes serving extremely low-income households and is designed to provide robust community support through specialized supportive services, an on-site community center, and day care facilities. The award represents a major investment in Serenity Village’s housing future and reflects the importance of partnerships among state agencies and community-based housing organizations in addressing California's affordable housing needs.
The $25.34 million MHP Gap Funding award is part of HCD's broader efforts to leverage state resources and close financing gaps for affordable multifamily housing developments throughout California.
In partnership with the County of Yuba, the award builds upon $11.6 million in prior HCD funding for Serenity Village, including $6,593,300 through the Infill Infrastructure Grant (IIG) Program and $5 million through the Permanent Local Housing Allocation (PLHA) Program, further advancing the development toward construction. The two organizations will next pursue Tax Credits with a goal to break ground in 2027.
Mutual Housing California is a nonprofit affordable housing organization dedicated to developing, operating and advocating for sustainable, affordable homes and healthy communities. Through its work, Mutual Housing helps create housing stability and opportunities for residents and families across Northern California.
Habitat for Humanity Yuba/Sutter is a nonprofit organization working to build strength, stability and self-reliance through affordable homeownership and housing opportunities for families throughout Yuba, Sutter, Glenn, and Colusa Counties.
The California Department of Housing and Community Development works to promote safe, affordable homes and vibrant communities throughout California. Through programs such as the Multifamily Housing Program, HCD provides financing and other resources to help increase the state's supply of affordable housing.
The County of Yuba’s additional support comes from The Prohousing Designation Program, a program recognizing jurisdictions that go above-and-beyond state housing law to help accelerate housing production. Yuba County’s Prohousing Designation status allows grant applications to receive priority processing times and a competitive edge in several state grant opportunities. Several Yuba County prohousing policies have further helped reduce or remove barriers for project objectives.
Rendering of Serenity Village | Mutual Housing California/Habitat for Humanity Yuba-Sutter
Media Contacts:
Sam Garcia
Marketing Specialist
Habitat for Humanity Yuba/Sutter
[email protected]
530-821-8616
Steven Root
Director of Communications
Mutual Housing California
916-202-6056
Rachel Abbott
County Public Information Officer
County of Yuba
[email protected]
530-749-5960