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Rancho Cucamonga Affordable Housing Non-Profit Issues $100 Million in Bonds

A photo of one of National CORE’s San Diego Encanto Village development.
National CORE
A photo of one of National CORE’s San Diego Encanto Village development.

A Rancho Cucamonga non-profit has finished issuing $100 million in taxable bonds.

The bonds were issued by theNational Community Renaissance of California(National CORE), who specialize in developing and providing affordable housing.

The group says they will use the proceeds to finance the acquisition, development, and preservation of high-quality, affordable multifamily housing.

In their press release, National CORE's CEO Steve PonTell said that funds are a game-changer for the affordable housing industry and that they'll now be able to accelerate the creation of critically needed housing.

Jonathan Linden was a reporter at 91.9 KVCR in San Bernardino, California. He joined KVCR in July 2021 and served with the station till October 2022.