Ravello Holdings and WNC & Associates have closed a deal to begin construction on Maison’s Sierra, an affordable housing community comprised of 196 single-family affordable rental homes in Lancaster. Maison’s Sierra will offer 39 one-bedroom, 77 two-bedroom, and 78 three-bedroom single-family homes restricted to households earning 30%, 50%, 60% and 70% of the area median income.

“This area of Lancaster is experiencing high growth in employment opportunities for middle class families who will benefit tremendously from the availability of affordable housing,” said Jessica Captanis, VP of originations – West at WNC. 

Located at 45635 Sierra Hwy. in Lancaster, Maison’s Sierra is situated close to downtown Lancaster, accessible to several shops, schools and amenities, including a public library and the Museum of Art and History. 

The deal was structured with federal and state Low Income Housing Tax Credits, energy credits, tax-exempts bonds, a construction loan from Merchants Bank and permanent financing from California Housing Finance Agency and its Mixed Income Program. Construction is expected to be completed in 18 months. 

Pictured: Maison’s Palmdale, a previous affordable single-family rental project from Ravello.