Two small apartment buildings in St. Helena will stay affordable for their 41 tenants, thanks to a partnership between local owners, the nonprofit Our Town St. Helena (OTSH), and the Bay Area Housing Finance Authority (BAHFA).
When the longtime owners decided to retire, they sold the Monte Vista apartments below market value so rents could remain low. OTSH bought the buildings using a $3 million, 55-year loan from BAHFA and a $750,000, 20-year loan from Poppy Bank. Burbank Housing will manage the properties going forward…