California Avenue Senior Housing is a 180-unit, new construction affordable senior housing facility in the center of the City of Bakersfield, California. The property offers seniors (age 62 and older) one-and-two-bedroom affordable rental units restricted to households earning between 30 to 60 percent of the area median income. Each of the three buildings has a community room, office, lounge, laundry room and library. There is also an on-site provider of services such as health counseling, nutritional education, literacy training, job skills development, computer skills training, and demonstrations on access to governmental services and community advocacy.

The development is in the center of the Bakersfield transit system and within a very short distance of the Downtown Transit center where multi-modal connections are readily available. The property is also within ¼ mile of multiple community and senior centers, four parks and a public library.

110,925 net rentable sq ft.

The site is located within the Southeast Bakersfield Redevelopment Project Area as well as in the area outlined in the City of Bakersfield Consolidated Plan for 2005, a high-priority endeavor for the City that has allocated $2.7 million in HOME and Redevelopment Tax Increment funds. The complex not only assists with the City's revitalization efforts but also provides affordable housing to the senior population in Bakersfield, a need that has been well documented.

Capital Vision Equities LLC is a full service real estate development and consulting group that specializes in the construction and rehabilitation of low-income and market-rate housing in greater Los Angeles.

$21,000,000

• Phoenix Realty Tax Credit Fund IV, LP is managed by Phoenix Realty Group LLC, a national real estate investment firm providing capital and expertise to urban developers for the creation of middle-market for-sale housing, urban smart growth development, low-income tax credit housing, and community revitalization projects.
• Capital Vision Equities, LLC