California Housing Finance Agency Awards Financial Services Contract to Sky Castle I Lp (July 2026)

The CalHFA Board approved Resolution 26-20 authorizing a final loan commitment to Sky Castle I, LP for the Sky Castle (Phase I) adaptive reuse multifamily development in downtown Los Angeles, including a 17-year, partially amortizing first-lien bond loan and a $4 million Mixed-Income Program second-lien subsidy loan. The financing will support construction and long-term affordability for 241 units, with 239 income-restricted units governed by CalHFA and local regulatory agreements.

Scope & details

The full contract record, as filed.

Contract amount

$42,617,941 1st lien bond loan; $4,000,000 Mixed-Income Program residual receipts 2nd lien loan (total $46,617,941)

Contract type

FINANCIAL_SERVICES

Contract term

17-year loan term, 40-year partial amortization on 1st lien

Renewal date

2046-11-30

Renewal

Both the CalHFA first-lien permanent loan and the Mixed-Income Program subsidy loan have 17-year terms with an exit analysis at year 16; refinance proceeds plus general partner contributions are expected to fully retire the MIP balance. No automatic renewal is described; re-syndication or refinancing at or before maturity is anticipated.

Document type

AgendaPacket

Source document

California Housing Finance Agency AgendaPacket Public Meeting Agenda 2026-07-23

Frequently asked questions

Common questions about this contract, answered from the record.

Who was awarded the financial services contract by California Housing Finance Agency?

Sky Castle I Lp was awarded this financial services contract by California Housing Finance Agency, as recorded on July 22, 2026. The contract value is $42,617,941 1st lien bond loan; $4,000,000 Mixed-Income Program residual receipts 2nd lien loan (total $46,617,941).

How much is the Sky Castle I Lp contract with California Housing Finance Agency worth?

The Sky Castle I Lp contract with California Housing Finance Agency is valued at $42,617,941 1st lien bond loan; $4,000,000 Mixed-Income Program residual receipts 2nd lien loan (total $46,617,941), covering financial services work.

What type of contract is this?

This is a Financial Services contract, documented as a agendapacket record.

Where was this contract approved?

This contract appears in California Housing Finance Agency AgendaPacket Public Meeting Agenda 2026-07-23 (AgendaPacket), dated July 22, 2026 from California Housing Finance Agency. Civic IQ extracts contract records directly from agency meeting documents and solicitations.

What other contracts does Sky Castle I Lp hold?

Sky Castle I Lp may hold additional government contracts. View their full contract history, the agencies they serve, and total tracked spend on their Civic IQ vendor profile.

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