Sienna is located in the Downtown area of Pomona, CA. The 1986 Built project was owned by Picerne Residential and Waterford Property Company partnered with CSCDA to acquire the asset in November of 2021. The project is being acquired using CSCDA’s Workforce Housing program where long term tax exempt financing is raised 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.  The Partnership will be investing over $18M to improve the asset after acquisition while also extending and expanding the existing Very Low Income restrictions on 1/3 of the units at the project.    

Owner - CSCDA

Project Administrator - Waterford Property Company

Property Manager - Greystar

Project Type - Convert Market Rate housing to Workforce Housing focused on the “Missing Middle”, tenants with incomes ranging from 50% to 120% of the area median income (AMI)

Project Location - Pomona, CA

Acquisition Cost - $149.4mm

Total Units - 472

Contact - (909)620-7275