Friday, June 11, 2010

Dixon senior housing lands $1M grant

Davis Senior Housing Communities Inc. was awarded a $1 million grant to build Heritage Commons, a 60-unit senior housing community in Dixon. The award from Federal Home Loan Bank of San Francisco is part of its Affordable Housing Program. First Northern Bank of Dixon, which is a member of the FHLB, applied for the funding. The senior apartment building will be built at the corner of South First Street and Heritage Lane. The housing is available for seniors who live at or below 50 percent of the area’s median income…. This $1-million award is the largest single award that we have ever received from the Federal Home Loan Bank. It’s gratifying to know that the funds will be used in our own hometown.” Of the $32.5 million in Affordable Housing Program funds recently awarded by the FHLB, California received only six awards of $1 million, which is the maximum limit. Heritage Commons in Dixon was the only rural community to receive the maximum award. The 5-acre site for Heritage Commons was donated by Brookfield Homes as part of its affordable housing requirement. The 60 apartments are the first phase on the site. Another 60 units will be built later.