GSFA Multi-Family Housing Program

Policies and Procedures

Financing and resources to develop low-and moderate-income housing

The Multi-Family Housing Bond (Multi-Family Financing) Program is designed to help developers and potential investors access tax-exempt and taxable bonds to finance the acquisition, construction, reconstruction and/or rehabilitation of qualified multi-family rental housing developments for persons and/or families of low and moderate income. The program is available to both non-profit and for-profit developers and/or public agencies.

Send completed applications to:

  • Golden State Finance Authority
  • 1215 K Street, Suite 1650
  • Sacramento, CA 95814
  • (855) 740-8422

Together We Can Make a Difference

In 2015 and 2016, GSFA issued more than $128 million in mortgage revenue bonds for multi-family housing. The bonds were issued to finance the acquisition and/or renovation of rental housing for low-and moderate-income families. GSFA also provided $2 million in private loan financing to bridge gaps in funding and help projects reach feasibility.

Of the 1,198 units renovated through the Program in 2015 and 2016, several projects have focused on affordable housing for seniors. One such project was the acquisition rehab of an existing senior community apartment complex “Seasons at Simi Valley Apartments”, located in Ventura County. GSFA provided financing for the acquisition of the 69-unit property as well as $10,000 in renovations for each unit. Of the units, 100% were set aside for seniors with incomes at or below 50% - 60% of the Average Median Income.


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