Turning Point Commons Chico

About This Building

Introduction: Creating Affordable Housing for Low-Income Residents Development of Low-Income Apartment Communities at CHIP Turning Point Commons: A CHIP-Managed Apartment Community Offering a Variety of Affordable Units 1. Introduction: Creating Affordable Housing for Low-Income Residents In an ongoing effort to provide affordable housing solutions, CHIP's Multi-Family Department specializes in developing apartment communities for low- and low-income residents. Through the utilization of diverse funding sources at the local, state, federal, and private levels, CHIP is able to construct housing options that cater to the needs of these individuals and families. 2. Development of Low-Income Apartment Communities at CHIP At CHIP, the dedicated Multi-Family Department focuses on the development of apartment communities specifically designed to support low- and low-income residents. By leveraging a range of funding sources, these housing projects become feasible and address the pressing issue of affordable housing within communities. 3. Turning Point Commons: A CHIP-Managed Apartment Community One of the successful developments managed and built by CHIP is the Turning Point Commons. This housing complex comprises 66 apartment units, offering a diverse range of options including 1, 2, 3, and 4 bedrooms to accommodate varying family sizes. With CHIP's expertise and management, Turning Point Commons serves as a testament to their commitment to creating comfortable and affordable homes for residents. 4. Offering a Variety of Affordable Units Turning Point Commons stands out as a limited share cooperative, benefiting from multiple sources of financing. This unique funding structure enables the diversified affordability of the units within the community. Some apartments are subsidized through project-based rental assistance, ensuring affordability for specific households. Additionally, Turning Point Commons provides below-market rental rates and market price units, catering to the diverse financial circumstances of low- and low-income residents. By offering this varied mix of affordable units, Turning Point Commons ensures that a wide range of individuals and families can find a home that aligns with their financial capabilities. This inclusive approach reflects CHIP's dedication to creating inclusive and sustainable housing for all members of the community.