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80B - AFFORDABLE HOUSING FUNDS
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80B - AFFORDABLE HOUSING FUNDS
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6/27/2019 5:24:34 PM
Creation date
6/27/2019 5:07:53 PM
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City Clerk
Doc Type
Agenda Packet
Agency
Community Development
Item #
80B
Date
7/2/2019
Destruction Year
2024
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Pre -Commitment of Affordable Housing Funds and a Ground Lease to Related Companies <br />July 2, 2019 <br />Page 7 <br />based nonprofits and over 20 municipal agencies to help communities realize their affordable <br />housing needs and redevelopment goals. Related brings a diverse portfolio in project size of 20 to <br />500 units and product type, new construction and acquisition/rehab. Related successfully led and <br />completed the entitlements process on 91 tax credit financed developments, 65 of which were new <br />construction projects. Related's fully integrated development team includes in-house capabilities for <br />all stages of the development process including planning, entitlements, architecture, finance, <br />construction and property management. Related is well versed in leveraging public funding sources <br />and navigating regulatory complexities. In the past five years alone, Related has received over 30 <br />awards, ranging from "Best Affordable Project" to "Real Estate Deal of The Year." <br />ACOF is one of the.most experienced developers of supportive, special needs and veterans housing <br />in Southern California, with a track record spanning 30 years and over 2,000 completed units of <br />supportive housing. As a developer, ACOF has also demonstrated its expertise in affordable housing <br />development by structuring and securing over $536 million in financing from all levels of government. <br />ACOF has been a service provider since 1996 and currently provides supportive services in 22 <br />developments for over 700 tenants. ACOF provides an array of intensive supportive services and <br />connects tenants to the full range of services they need to gain increased independence and remain <br />stably housed. Integrated services are provided on an ongoing, individualized and flexible basis in <br />concert with tenants' needs and priorities, both individually and in group settings. <br />Related has partnered with ACOF as its non-profit partner for the Project to provide the services and <br />expertise for serving the special needs units. ACOF is one of the most experienced developers of <br />permanent supportive housing in Los Angeles County and Southern California, with a long track <br />record of delivering high quality supportive housing for people who were formerly homeless. ACOF <br />has completed 50 housing developments of supportive housing for homeless individuals and <br />families. <br />Related is proposing to develop a new transit -oriented affordable housing community on 2.28 acres <br />located at 1126 and 1146 Washington Avenue and the County of Orange parcel directly to the South <br />of 1126 and 1146 Washington Avenue. The site is currently vacant, and positioned within walking <br />distance from the Santa Ana Regional Transportation Center — a key transit hub for not only Orange <br />County, but all of Southern California. The Project site is on two (2) contiguous undeveloped parcels, <br />one fronting E. Washington Avenue on the northern half of the site (Housing Authority -owned Parcel) <br />and one parcel directly south of the City Parcel (County -owned Parcel). The five original buildings <br />located on the site were demolished in the 1990s by CalTrans during a freeway -widening project. As <br />a vacant and undeveloped site, there is an opportunity to imagine a newly designed site that will truly <br />meet the needs of the local community. The entire site is designated District Center (DC) in the City <br />of Santa Ana 1998 General Plan and zoned Transit Village (TV) in the Transit Zoning Code. <br />The proposed Project includes the development of one residential building, subdivided into three (3) <br />residential portions, with 86 units surrounding two interior, landscaped courtyard/amenity spaces <br />(Exhibit 3). Developed at an overall density of 37.7 units per acre, there will be 16 studios, 26 one - <br />bedrooms units, 22 two -bedroom units, 17 three -bedroom units, and 5 four -bedroom units. All units <br />will be flat apartments located on the first, second, and third floors. Currently, the building has been <br />designed to buffer courtyards, open green areas, and pool area from highway noise and visual <br />Foerlliffi <br />
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