May 19, 2021 -- Located in San Luis Obispo in Central California, Judson Terrace Homes is a HumanGood affordable housing community with 107 apartments. Originally built in 1971, the community was the first affordable housing community built by ABHOW and recently celebrated fifty years of service, providing seniors with a safe, secure place to call home.
In 2020, the community celebrated the completion of a major redevelopment project, which brought upgraded interiors, necessary renovations and improved amenities for our residents. HumanGood’s Beacon Development Group led the project, partnering closely with Judson Terrace Homes team members and residents, to breathe new life into the community.
Beacon Development began planning for the renovation and refinancing of the community in 2018. The process included obtaining funding by securing tax-exempt bonds and four-percent low income housing tax credits.
As part of the refinancing process, rental increases would have impacted the community’s residents but thanks to rental subsidies acquired by Beacon, our residents were able to stay in their homes. The refinancing is part of HumanGood’s commitment to preserve the community’s affordability status as originally established when it was built.
Watch the video to learn more and see the transformation.