Closing Announcement: Monamos Terrace Apartments

February 17, 2023

We are excited to announce that Monamos Terrace Apartments closed last week!

Located in Murrieta, California, this project will offer much needed affordable housing to very low-income families. This new construction development provides 139 units, comprised of one-, two-, three-, and four-bedroom apartment homes for households earning 30 – 60% of the area median income. The site is in an amenity-rich area, close by public transportation, grocery stores, pharmacies, and shops. Residents will have access to a broad variety of resident programs and supportive services that will be provided by Pacific Housing Inc.

Funding for the project includes County HOME funds, along with section 8 PBVs, 4% LIHTC, bonds and state credits. The site is being designed by Summa Architecture and will be built by Next Phase Construction.

Thank you to our partners on this project: The County of Riverside, the City of Murrieta, JPMorgan Chase, Hudson Housing Capital, Aegon, the California Tax Credit Allocation Committee, and the California Debt Limit Allocation Committee. This would not have been possible without your help!