Financing and development closing for Lone Oak II Senior…
North Delta Regional Housing AuthorityMississippi- Detected
- May 28, 2026
- 159 days ago
- Sector
- Capital Projects
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THE 30-SECOND BRIEF
On May 28, 2026, Building Better Partnerships, Inc. adopted Resolution 26-60 authorizing execution of all financing and investment closing documents for the 31‑unit Lone Oak Senior Apartments II project in Penn Valley, California. The resolution empowers BBP officers to finalize construction and permanent loans, federal LIHTC equity, HOME funds, deferred developer fees, a WNCRHTF loan, and related development, acquisition, property management, construction, and tax credit documents with Penn Valley Pacific Associates II as project owner and PNC Bank and Columbia Housing SLP Corporation as limited partners.
This indicates that capital stack and key partners for the Lone Oak II senior housing development have effectively been selected and the project is moving into financing close and construction/implementation. While the main financing and core development contracts are decided, there are likely ongoing and upcoming needs around general contracting, specialty trades, property management operations, supportive services for seniors, compliance reporting, energy efficiency, and IT/building systems as construction proceeds. Vendors can position for subcontracting, professional services, or post‑completion operations support with BBP, the Regional Housing Authority, or the project owner entity.
Lone Oak II-BBP, LLC is the managing general partner for the project owner, and BBP is its sole member and manager.
From the meeting
- Source
- Financing and development closing for Lone Oak II Senior Apartments
- Meeting date
- May 28, 2026
- Agency
- North Delta Regional Housing Authority
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Questions about this project
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When will North Delta Regional Housing Authority issue an RFP for this project?
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