Villa Esperanza epitomizes the power of partnership in creating affordable housing solutions that are sustainable, supportive, and community-centric. This 57-unit development in Pomona, CA, is an example of what can be achieved when public and private entities come together with a common goal: to serve families, veterans, and formerly homeless individuals with dignity and respect.
Our financial partners have played a pivotal role in bringing Villa Esperanza to fruition. Wells Fargo provided a substantial foundation with $14.6 million in construction financing and $13.1 million in tax-credit equity. Barings LLC extends the financial backbone with $4.6 million in permanent financing, ensuring long-term stability for the community.
The City of Pomona has not only contributed the land through a $3.4 million land note but has also facilitated essential services with $250,000 in impact fee notes and eight VASH vouchers, administered with care by the Pomona Housing Authority. These contributions are critical in realizing a project that is deeply integrated with the city’s vision and needs.
Supporting the mental health and well-being of our residents, Tri-City Mental Health Authority's $2.8 million MHSA loan is instrumental in ensuring that services go beyond housing, addressing holistic health for a truly supportive community environment. Further financial reinforcement comes from the San Gabriel Valley Regional Housing Trust, with a $1.3 million construction loan, underscoring the importance of regional support in tackling housing challenges.
Villa Esperanza is not just built by financial investments but also by the promise of a better future for its residents. Jamboree's commitment to delivering fully funded wrap-around services in collaboration with Tri-City Mental Health Services and Volunteers of America Los Angeles creates a foundation for residents to thrive. These services are a testament to our collective commitment to not only building homes but also fostering opportunities for growth, learning, and health.
Through these robust partnerships, Villa Esperanza stands as a beacon of hope and a model of what can be achieved when we work together to support those in need. Here, each partner’s contribution is not just an investment in property but a cornerstone in a community where every resident has the opportunity to lead a fulfilling life.
