California Housing Finance Agency | State of California 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.

Document date · July 22, 2026

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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

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California Housing Finance Agency Resolution Resolution Authorizing a Final Loan Commitment 2026-07-23

APPROVED

California Housing Finance Agency, California$43,739,159.00 1st Lien Bond Loan; $4,000,000.00 Mixed-Income Program Residual Receipts 2nd Lien LoanJul 23, 2026

Frequently asked questions

Common questions about this contract, answered from the record.

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

Sky Castle I Lp was awarded this financial services contract by California Housing Finance Agency | State of California, 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 | State of California worth?

The Sky Castle I Lp contract with California Housing Finance Agency | State of California 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 | State of California. 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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