Villa Vasona is a 107-unit senior property on a tree-lined street in Los Gatos, close to El Camino Hospital. Built in 1983, it serves an unusually wide band of incomes, from 30% to 60% of area median income, housing seniors with the greatest need.
The preservation plan combined HUD's Mark-to-Market process with a HUD-insured 223(f) loan, which funded about $41,000 per unit of improvements to resident interiors, exterior common areas and building structures. Units received new cabinets, countertops, flooring, paint, and lighting and plumbing fixtures; balconies and landscaping were improved throughout the site.