Real Estate Blog

Improvements on the way for Casa Del Sol apartments in Hanford

Community Development Trust and Southport Financial Services Inc. have announced a joint venture to buy and improve three California apartment complexes for $16 million including one in Hanford.

The properties are Casa Del Sol in Hanford; Village Oaks in Victorville, northeast of Los Angeles; and East Linda Gardens in Marysville, just outside Yuba City.

The properties combined have a total of 300 affordable apartments for low-income families and seniors. Casa Del Sol was built in 1999 and has 81 apartments.

The trust is a national investor in affordable housing while Southport is a multifamily housing developer.

“Our strategic partnership with CDT will help address the critical unmet need for affordable housing that exists throughout California,” said Sue Baker, vice president of Southport Financial. “By providing families with quality housing and amenities that will help parents and their children to thrive, we help build better communities.”

BoNhia Lee: 559-441-6495, @bonhialee