Several affordable housing projects are on track to be finished this year, including the Doria Apartments in Irvine, which broke ground this month.
Construction for six affordable housing projects in Los Angeles and Orange counties — including one in Irvine — are financed and on their way to completion this year, builders said.
Irvine-based Jamboree Housing broke ground Feb. 10 on the Doria Apartments, a 134 unit apartment complex located at 1000 Crested Bird, which will be built in two phases and ready for occupancy of the first 60 units by the end of the year, said Mary Jo Goelzer, company chief operations officer.
Other construction on new and rehabilitated properties in Huntington Beach, Garden Grove, Fontana, Claremont and Brea will also be completed by this year, she said.
In addition, construction on a second property in Brea, a property in Buena Park and a rehabilitation of a property in Long Beach is also scheduled to begin some time this year.
“It’s going to be a busy year for us,” Goelzer said, explaining that construction often comes in waves following the availability of financing.
Funding for the Doria Apartments came from a variety of local sources, including $9.9 million in tax credit equity from the Irvine Company, which will hold the lease on the property for 55 years, $2.7 million in permanent financing from the County of Orange and $2.64 million in construction and permanent financing from U.S Bank, according to information released by Jamboree.
Additional construction financing comes from the Irvine Community Land Trust in the amount of $1.6 million and the city of Irvine in the amount of $397,495, said ICLT Executive Director Mark Asturias.
The project will be open to applicants who earn between 30% and 60% of the area median income, he said.
“We think that it’s important what the city has set out to achieve,” Asturias said. “Which is a full spectrum of housing to fit the housing needs of all incomes and stages of life.”
In September 2005, the city council adopted a long-term Housing Strategy and Implementation Plan, which pledged to increase the housing inventory to 9,700 units, or 10% of the total inventory, by 2025.
“The city of Irvine has taken it’s commitment to affordable housing very seriously, said Mayor Pro Tem Beth Krom.
She later added: “We’re very proud that we have not had any opposition. Providing a mix of affordable housing helps create a stronger, more dynamic community.”
Further adding to Irvine’s diverse community is the availabili ty of housing for those with disabilities, she said.
The Doria Apartments make the beginning of Jamboree’s commitment to provide 10% of the units at each new construction project to those occupants with special needs, according to a news release.
“We do take very seriously the inclusive nature of our city and the fact that Jamboree is working with other stakeholders to make sure that there is available housing opportunities for other populations, which may typically have difficulty finding housing opportunities is a great thing,” Krom said.
The Doria Apartments are not the first affordable housing partnership between Jamboree and the city of Irvine. Other projects include The Arbor and The Inn at Woodbury, The Meadows, Montecito Vista and Granite Court.
