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Paine Square Apartments, San Francisco,
CA |
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Project Profile Chart
Telesis took the lead in partnering with a local, neighborhood
faith-based organization, Bethel A.M.E. Church, to acquire and renovate
this Section 236 insured family project. With Bethel, Telesis obtained
$10.5 million in financing for the acquisition and renovation of the
98-unit property. Within a year following acquisition, Telesis
completed the renovation program, which included new roofs, replacement
of the exterior siding, separate metering of electricity, and
substantial landscaping and interior improvements. A community center,
with a meeting room and other facilities, was also fully renovated.
Additional physical improvements and community services are planned.
Bethel A.M.E. Church is taking the lead on day-to-day operations and
resident and community relations. The property is today fully occupied
and financially sound.
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