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Second Affordable Development Coming to Beaumont
Nonprofit developer Linc Housing and Riverside Community Housing Corp. have launched construction on The Blossom, a 48-unit apartment community in Beaumont for families earning at or under 30% of the area median income for Riverside County. The Blossom joins Liberty Village as Linc Housing’s second affordable community in Beaumont.
“Nearly half of all families in Beaumont are rent burdened, which means they’re paying more than 30% of their income on housing,” said Suny Lay Chang, president and COO, Linc Housing. “The Blossom is for larger families that need an affordable home.”
The development is funded by a variety of sources, including the State of California Multifamily Housing Program, a construction loan from PNC Bank, and tax credit equity from Raymond James. Project-based housing vouchers will be provided by the County of Riverside.
- ◦Development
