Development
Maison’s Palmdale - Palmdale, CAInvestment Overview
Land Sourcing
Off Market
Land Acquisition Date
June 2021
Affordability
30% of units at 50% of the Area Median Income (AMI)
70% of units at 60% of AMIProperty Size
118 Units
Year Built
June 2023
Property Type
Build To Rent (BTR)
Capitalization
4% Low-Income Housing Tax Credits (LIHTC) with a forward-committed Fannie Mae M.TEB loan
Development Strategy
Opportunity
Maisons Palmdale presented a unique opportunity to rethink the development potential of a site originally entitled for a traditional tract home subdivision. In partnership with a local developer, we acquired fully entitled land and strategically reallocated its use to develop one of California’s first fully affordable Build-To-Rent (BTR) communities.
Development Strategy
Enabled by newly enacted state legislation, Maisons Palmdale was developed as a density-optimized community by integrating Accessory Dwelling Units (ADUs) on each lot—effectively doubling the unit count without compromising livability. The community combines the comfort of single-family living with the scalability and efficiency of multifamily development.
Impact
Maisons Palmdale is one of California’s first fully amenitized BTR communities financed through LIHTC. The project delivers a significant quality-of-life upgrade for low-income families, offering detached homes with private entrances and garages in place of aging apartment stock. It serves as a replicable model for affordable BTR housing, enabled by thoughtful design, aligned policy, and public-private partnership.
