Oceanaire is located in Downtown Long Beach, CA. The project was originally built by LMC and Waterford Property Company partnered with CSCDA to acquire the asset in March of 2021, two years after it was delivered to the market. The project is being acquired using CSCDA’s Workforce Housing program where we raised long term tax exempt financing from major Institutional Bond Investors to acquire the asset. The Bonds were also designated as Social Bonds by Sustainalytics due to the Societal benefits of the Bonds and meeting their specific Social Bond criteria.

Owner - CSCDA

Project Administrator - Waterford Property Company

Property Manager - Greystar

Project Type - Convert Market Rate housing to Essential Housing focused on the “Missing Middle”, tenants with incomes ranging from 80% to 120% of the area median income (AMI)

Project Location - Long Beach, CA

Acquisition Cost - $120mm

Total Units - 216

Contact - (562)359-4247