Plaza de las Flores

Plaza de las Flores was a landmark project for CCH because it was the first Proposition 46 Preservation Opportunity Program project in California. In 2003, CCH acquired and preserved the long-term affordability of this 20 year old, 101-unit senior facility in Sunnyvale using CalHFA tax-exempt bond financing, HCD MHP funds, a new 20-year Section 8 Contract, local HOME, CDBG, and County Trust funds. The complex includes both residential and commercial tenants. The nearly $2M renovation focused on Building System Modernization, Common Area Accessibility, Energy Efficiency, Dry Rot Repair, and Interior Redecoration, and was completed without resident relocation. Additional apartment and common area upgrades are ongoing, financed by additional reserve accounts created at permanent loan closing. Because CCH had been the property management agency for nearly 20 years, staff had a very good working relationship with the City and the residential and commercial neighbors.

Property Location: 233 Carroll Street, Sunnyvale, CA

Total Units: 101

Completed: 2005

Development Type: Acquisition and Rehabilitation

CCH Role: Sole Developer and Owner