City of Lakeport Announces Parkside Apartments Project: A Landmark Affordable

Housing Development

Lakeport, CA – July 8, 2025 – The City of Lakeport is proud to announce the Parkside
Apartments Project (1310 Craig Avenue), a transformative affordable housing development
designed to address the critical need for quality housing in the community. This project is made
possible through a combination of funding sources, including CDBG-DR (Community
Development Block Grant – Disaster Recovery) funding from the City, Low-Income Housing Tax
Credits (LIHTC), Infill Infrastructure Grant (IIG) funds, Permanent Local Housing Allocation
(PLHA) funds, and private investment. We are excited to provide funding for the project and
DANCO Communities.
Project Overview & Unit Mix
The Parkside Project will provide 64 affordable housing units, catering to low- and moderate-
income households. The development will feature a mix of two- and three-bedroom units,
ensuring a diverse range of housing options for families, individuals, and seniors. Designed with
modern amenities and energy-efficient features, the project will offer residents a comfortable and
sustainable living environment.
Funding Sources
The total development cost of $36.2 million has been secured through a collaborative effort
involving multiple funding partners. The financing structure includes:
 $9.2 million in CDBG-DR funds allocated by the City of Lakeport to support disaster
recovery and community resilience.
 $15.64 million in Tax Credit Equity leveraging federal and state affordable housing
incentives.
 $4.3 million in Permanent Debt Financing ensuring long-term sustainability.
 $2.6 million in PLHA funds to assist in affordable housing development.
 $2.2 million in IIG funding for essential infrastructure improvements.
 $850,000 in GP Equity Contributions and a $2.05 million Developer Note to ensure
project feasibility.

225 PARKSTREET•LAKEPORT, CALIFORNIA 95453•TELEPHONE (707) 263-5615•FAX (707) 263-8584
Community Impact
The Parkside Project is poised to bring lasting benefits to Lakeport by:
 Providing much-needed affordable housing for low-income families, seniors, and
individuals.
 Enhancing community resilience through the use of CDBG-DR funding to support disaster
recovery efforts.
 Stimulating economic growth by creating local jobs during the construction phase and
generating long-term economic activity.
 Improving infrastructure with upgraded utilities, pedestrian-friendly spaces, and enhanced
community services.
City Leadership Perspective
“We are thrilled to see the Parkside Apartments Project move forward,” said Joey Hejnowicz,
Community Development Director for the City of Lakeport. “Parkside is more than just a housing
project—it’s an investment in the people of Lakeport. By creating 64 new affordable homes,
we’re helping ensure that local families, seniors, and individuals can continue to live and thrive in
our community. By leveraging a unique combination of funding sources and strong public-private
partnerships, we’re not only addressing urgent housing needs—we’re helping shape a more
inclusive and sustainable future for our community.”
Next Steps
Construction on the Parkside Project is set to begin in July 2025 with anticipated completion by
January 2027. The City of Lakeport and its development partners will continue to work closely to
ensure the project meets all community needs and regulatory requirements.
For more information, please contact: Joey Hejnowicz, Community Development Director City of
Lakeport, jhejnowicz@cityoflakeport.com