Techo Funding, Impact Housing announce $57.2m construction loan for workforce apartment homes in San Diego

Techo Funding (Techo) and Impact Housing US (Impact Housing) announced the closing of construction financing for an upcoming 324-unit multifamily project in San Diego. The firms share a common mission focused on providing housing that is attainably priced for middle-income households, which is one of the most underserved demographics in San Diego.

The project, located at 6440 El Cajon Blvd., is within a mile of San Diego State University and will provide new apartment homes for households earning between 60 percent and 120 percent of area median income, helping fulfill San Diego’s unmet need for low- and moderate-income housing. The project was sourced, designed, entitled, manufactured, constructed and managed by Los Angeles-based Impact Housing. Techo will provide $57.2 million in debt to fund the construction and stabilization of the project.