DIXON, CA (MPG) - The Hampstead Companies, Crestone Development and Affordable Housing Community Development Corporation will host a joint groundbreaking and ribbon cutting ceremony at 11 a.m. June 12 for two new affordable communities located in the master planned Homestead community in Dixon.

The ceremony celebrates the groundbreaking of Prospera at Homestead and the ribbon cutting for the nearly- completed neighboring community, Silvey Villas at Homestead.

Prospera at Homestead will create 108 affordable homes for individuals and families earning 60% area median income (AMI) or less.

Silvey Villas at Homestead will create 72 affordable homes for seniors aged 55 and older earning 60% area median income or less.

Both communities are financed utilizing tax-exempt bonds and 4% federal and state low-income housing tax credits. Both communities have been awarded eight project-based vouchers by the Solano County Housing Authority. Prospera at Homestead was also awarded a $3.2 million loan from the County of Solano.

The two communities will have individual community buildings with a leasing office and dedicated space for resident services. Amenities include community barbecue space, dog park and playground.

Completion for Prospera at Homestead and Silvey Villas at Homestead is expected to be late 2025 and August 2024, respectively.