WNC Closes $66.3 Million Affordable Housing Fund in California
WNC & Associates, Inc., an Irvine-based leader in the affordable housing industry, has closed its latest fund, WNC Institutional Tax Credit Fund X California Series 23 (CA23), with a total of $66.3 million raised. This marks the company's 23rd consecutive California-focused multi-investor affordable housing fund and is part of over five decades of investment in the state. The CA23 fund will support six new-construction properties across Los Angeles, San Benito, and San Diego counties, providing a total of 650 homes. These developments will utilize Low-Income Housing Tax Credits (LIHTCs) to serve low-income families, with some units also supported by Section 8 vouchers. Over the past 55 years, WNC has sponsored 41 California-focused funds and invested in over $4 billion of assets across more than 350 properties. The company continues its mission to create and preserve affordable housing while adapting to market changes.
Topics: California housing development investment