WNC & Associates and Ravello Holdings continue partnership to meet urgent housing needs
Maison’s Village II
PALMDALE, Calif., June 26, 2025 (GLOBE NEWSWIRE) — WNC & Associates (WNC), a family-owned business known as both a pioneer and leader in the affordable housing industry, and Ravello Holdings, Inc., one of California’s leading developers and builders of quality single and multi-unit homes, have begun construction on Maison’s Village II, a $72 million, 189-unit affordable housing community in Palmdale, California.
Situated at the intersection of Oak Street and East Palmdale Boulevard, Maison’s Village II offers residents proximity to nearby shopping, employment hubs, recreational amenities, entertainment venues, and educational institutions. The community will feature a mix of duplexes and single-family accessory dwelling units (ADUs) across 66 lots. Designed to meet diverse household needs, the development will include 64 one-bedroom units, 46 two-bedroom units, 57 three-bedroom units, and 22 four-bedroom units. Three- and four-bedroom homes will include attached two-car garages, while one- and two-bedroom units will offer convenient surface parking. All residences are reserved for households earning between 30% and 70% of the area median income (AMI), ensuring long-term affordability and community stability.
Maison’s Village II will be the second phase of the larger Maison’s Village project, which opened in January 2024. Maison’s Village, the preceding phase, offers 168 units and achieved stabilized occupancy in just four months.
“With many families in Palmdale struggling to find quality housing within their means, developments like Maison’s Village II are critical,” said Anil Advani, Executive Vice President of Originations and Finance at WNC. “This community represents our continued commitment to expanding access to safe, affordable homes, while also investing in the long-term health and stability of the neighborhoods we serve. We’re proud to partner with Ravello Holdings to bring this next phase to life.”
Each residence at Maison’s Village II is outfitted with modern, energy-efficient amenities to enhance comfort and convenience. In-unit features include a refrigerator, dishwasher, garbage disposal, microwave, and range, along with central air conditioning to ensure year-round comfort. Additional features include durable vinyl flooring, privacy-enhancing window blinds, and in-unit washer/dryer hookups. Residents will enjoy private patios or porches, and select units include spacious walk-in closets.
Maison’s Village II includes a variety of on-site amenities to support everyday living and create a sense of community. Residents can enjoy a swimming pool, clubhouse, fitness center, and a community park for recreation and relaxation. The property also features a playground, business/computer center, and convenient laundry facilities. On-site management will be available to assist residents, and surveillance cameras will help enhance security. Picnic and barbecue areas provide space for outdoor gatherings and building community bonds.
“Ravello Holdings is thrilled to be partnering again with WNC and the City of Palmdale on Maison’s Village II. The need for affordable and quality housing in California has never been greater. Our present and future developments reflect our continued commitment to addressing housing challenges without compromising design, comfortability, or long-term value,” said Kirby Taylor, Vice President of Ravello Holdings, Inc.
Maison’s Village II will be financed through a combination of funding sources, including $72 million in Low-Income Housing Tax Credit equity from WNC, a $58 million construction loan from KeyBank, and a $30 million long-term permanent loan from CalHFA.
The project will break ground immediately and construction is expected to be completed in 2026.
About WNC & Associates
Founded in 1971, WNC & Associates (WNC) is a family-owned business known as both a pioneer and leader in the affordable housing industry. WNC and its affiliated companies specialize in tax credit syndication, affordable housing development, and preservation equity fund investments. Combined, the WNC companies have acquired approximately $18.2 billion in assets across 48 states, including more than 1,800 affordable rental properties that house more than 1 million residents. With offices in 16 states, WNC has partnered with more than 400 developers and 125 institutional investors. To learn more, visit: https://www.wncinc.com/.
About Ravello Holdings, Inc.
Formed in 2012, Ravello Holdings, Inc. (“Ravello”) is a for-profit real estate development corporation whose principal is Dilip Ram. Mr. Ram has over 40 years of development experience throughout Southern California, having developed approximately 140 properties, which range from: over 6,000 units of high-end condominiums and apartments; luxury homes; beachfront and mountain retreats; urban revitalization; student housing; affordable housing; senior communities; and mixed-use projects. To learn more, visit: https://ravelloholdings.com
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