
Oak Park 3 Apartments, Paso Robles, CA
76 units, New Construction
Oak Park 3 is a newly-built affordable residential community on a 6.7-acre site in Paso Robles, California. The property consists of 12 one-bedroom units, 40 two-bedroom units, 22 three-bedroom units and 2 four-bedroom units in 13 two- and three-story residential buildings and a one-story community building. Units are restricted to residents earning no more than 60%, 50%, 45%, 40%, or 30% of Area Median Income (AMI).
R4 Capital raised equity from an investment in 9% LIHTCs, California state credits and solar energy credits.
Family
The property is a complete redevelopment of Oak Park which was originally built in 1941 to house military families based at Camp Roberts during World War II. It was converted to public housing at the end of the war. The original buildings were demolished to create safe, modern housing.