MHA Garden Street Apts
Construction start: November of 2006
Completion: November of 2008
Permanent Financing: December of 2009
617 Garden Street, Santa Barbara
51 Units, Offices and 110 Space Parking Garage
9% LIHTC, Redevelopment Agency of the City of Santa Barbara, Mental Health Services Act, City HOME Funding, Affordable Housing Program of San Francisco Bank Board
$27,900,000 Total Project Cost
Architect: Hochhauser and Blatter
Contractor: Trabucco Construction
Frank Thompson served as one of several consultants for this project, joining the team late in the process to assist completion of the permanent loan funding, which included closing the final equity payments with the RBC Capital Partners, obtaining additional assistance from the Redevelopment Agency of the City of Santa Barbara, closing the Mental Health Services Act funding commitment, and completing the 501(c)3 bond funding of the non-residential project components. Frank Thompson also assisted the repayment of the blanket construction loan and concurrent sale escrow and seperate financing of the three airspace condiminium units (the 51 apartments in Unit 1, Fellowship Club and service offices in Unit 2, and the City Water Department in Unit 3) and the placed-in-service filing, Regulatory Agreement, and 8609 forms.