(Read more on the multifamily market.)

RANCHO CUCAMONGA, CA-LINC Housing Corp. of Long Beach hasunveiled its $43 million Pepperwood Apartments complex, a 230-unitproperty at 9055 Foothill Blvd. that the company has retrofittedfor improved for energy efficiency while completing a host of otherupgrades. LINC, which is a nonprofit developer of affordablehousing for families and seniors throughout California, worked withthe city of Rancho Cucamonga to buy the Pepperwood complex in2006.

Through the acquisition, LINC made previously market-rateapartments affordable to limited-income residents who were at riskof being priced out of their neighborhoods during the city's newwave of prosperity. The complex features units ranging from studiosto two-bedroom apartments that range from 487 sf to 975 sf, all ofthem set aside for families earning from 35% to 60% of the areamedian income for San Bernardino County, or about $321 to $732 permonth depending on household income.