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Valhalla Townhomes
Project type
Rehab Preservation
Date
March 2025
Location
Crescent City, CA
Valhalla Townhomes
911 Pacific Ave
Crescent City, CA 95531
Del Norte County
Total Units: 45
Project Type: Acquisition & Rehabilitation / Preservation
Population: Families
Affordability: 30 to 80% Area Median Income
Funding Sources:
• 4% Federal Low Income Housing Tax Credit Equity
• State Tax Credit Equity
• Tax Exempt Bonds
Expected Completion: 2025
Property Manager: https://www.mbspminc.com/
Valhalla Townhomes, a 45-unit affordable residential community in Crescent City, Del Norte County, faced potential conversion to market-rate housing before its preservation in 2023. Through new ownership, the property's long-term affordability was secured and extended through comprehensive renovations and the recordation of a 55-year land use regulatory agreement.
This preservation effort ensures that Valhalla Townhomes continues to provide crucial housing for families earning between 30% and 80% of Area Median Income. The development represents a vital victory in maintaining affordable housing stock within Del Norte County, protecting residents from displacement while enhancing their quality of life through property improvements.
