Communities Housing Opportunities Corporation (CHOC), a 501(c)(3) nonprofit affordable housing developer created in 1984, has sponsored the development of more than 1,100 units of affordable rental housing and 74 single-family homes.

On February 12, 2001, the Executive Board of the Authority for Nonprofit Corporations authorized an application by the Authority to the California Debt Limit Allocation Committee permitting the issuance of tax-exempt private activity revenue bonds on behalf of CHOC for the acquisition and rehabilitation of the Hampton Place/Gateway Village project. The Hampton Place/Gateway Village received $4,840,000 in non-rated, privately placed Multifamily Housing Revenue Bonds.

Located in a distinct area of decline, the Hampton Place/Gateway Village community will revitalize its community and provide safe and affordable housing for low and very-low income families. The importance of this critical role is emphasized by the City of Fairfield’s commitment of over $2.5 million to this project. Under its Home Funding program, the City’s funding will be split into two deferred payment loans. The first loan is for $501,046 for a term of 30 years at 3%. The second loan is for $2,196,203 for a term of 55 years at 3%.

This residential project consists of two separate properties, one comprising 48 two-bedroom units arranged in a series of 12 two-story buildings and the other, just north of the first portion, encompassing four contiguous fourplexes. The two developments combined currently offer 64 two-bedroom units with inadequate parking, no amenities, little open space—most buildings only ten to fifteen feet apart and separated by concrete walks, and substandard physical conditions. Seventeen of the 64 units are presently inhabitable. The newly-financed combined project will become known as Gateway Village Apartments, a 56 unit complex with 38 two-bedroom units and 18 three-bedroom units.

This project was featured in the National Association of Local Housing Finance Agencies' ("NALHFA") November/December 2001 Housing Finance Report.