Providing AffordAble Housing for low And ModerAte-incoMe...

Providing AffordAble Housing for low AndModerAte-incoMe fAMilies in sAn bernArdino county

About HousingPartners I, Inc.

Formed in 1991, Housing Partners I, Inc. (HPI) was tasked to develop, own, and manage affordable housing, and provide housing counseling services to low and moderate income people in the County of San Bernardino.

As a nonprofit 501 (c)(3), HPI is designated as a Community Housing Development Organization. This allows HPI to apply for and receive HOME funds from the County of San Bernardino Department of Community Development and Housing and other cities for the acquisition, development, and rehabilitation of housing units.

HPI is an experienced affordable housing developer and integral part of serving County of San Bernardino. HPI has established successful partners with various agencies, municipalities, financial institutions, and housing developers within the County of San Bernardino. HPI is an affiliate of the Housing Authority of the County of San Bernardino (HACSB), who is under contract to manage HPI’s activities.

To date, HPI has 963 housing units as part of its portfolio, but since its inception has developed and acquired over 1,100 units.

Developing and Building Communities Together

HPI and its many partnerships throughout the county have helped build strong, vibrant communities. Information on HPI’s housing developments in progress, the newest developments, and other developments and acquisitions that highlight the partnerships and successes are highlighted in the following pages.

HPI, Inc. Board of Directors Lee McDougal, President of the Board

Daniel J. Nackerman, Secretary/Treasurer

Kathryn McCool

John C. McGrath

Fred Shorett

Project HighlightHorizons at YucaipaYucaipa, CA

Project Funding SourcesSource

$ 2,770,553727,619

3,868,0001,716,650

913,100556,144

6,965,549

Amount

$17,517,615

Tax Exempt BondCity Deferred FeeCounty HomeMHSAHPI LoanDeferred Fee4% Tax Credits

Total

Project HighlightProspect PlaceLoma Linda, CA

The Loma Linda Prospect Veterans Housing Apartments are located within the City of Loma Linda at 25675 & 25695 Prospect Avenue, Loma Linda, CA and 11220 Mountain View Avenue, Loma Linda. Loma Linda Prospect Veterans Housing Apartments project consists of 25 multi-family affordable Veterans housing units which are a mix of 4 (four) 1 bedroom/1 bath units and 21 (twenty-one) 2 bedroom/2 bathroom units. The project is designed to provide much needed affordable housing to Veterans and their families. Seven of the units are set aside to house homeless Veterans and to provide onsite supportive services through US Vets.

The Loma Linda Prospect Apartments were built in 1972 and will undergo a major rehabilitation over the next 12-months as the partnership group upgrades major systems, cosmetic improvements and ADA accessibility.

south elevation

Horizons at Yucaipa site map

partial east elevation

club house

Horizons at Yucaipa is a two-phase 77-unit senior apartment development which began construction in the Fall of 2015. Phase I construction will be complete in December 2016 and consists of 50-units, with ten units reserved for seniors (60 years of age or older) with mental health needs. The development is being built in partnership with the Housing Authority of the County of San Bernardino, with HPI as the Managing General Partner. The project is also utilizing a fee developer, Urban Housing Communities, to oversee the construction management and stabilization. HACSB is providing 50-Project Based Vouchers to support phase I of the development. The project funding sources are outlined in the table.

Bloomington Groves &Lilian Court ApartmentsBloomington, CA

Valencia Grove ApartmentsRedlands, CA

Currently under construction are the Bloomington Groves and Lilian Court Apartments, a 106 unit senior and family complex with a public library. HPI is a partner with Related Companies, LaBarge Industries, PATH Ventures, and HACSB. HACSB is providing a total of 31-Project Based Vouchers to support this development.

The project funding sources are outlined in the table. The first phase of the project is expected to open in the summer of 2016.

HPI is also a partner in the Valencia Grove development; which was a 70 year old public housing site. The initial phase of development includes construction of 85 family units, and subsequent phases will result in a total of 228 units including 39 single family homes for sale; an increase from the previous 115 affordable housing units.

Silver Creek Industries manufactured the factory built homes off site and transported them to the Redlands site for installation by U.S. Modular under subcontract to Perera Construction.

The project funding sources are outlined in the table. Phase one of construction is scheduled to be complete the winter of 2016.

HPI is a partner in the Valencia and 9th Street development, a 75 family unit apartment complex, part of phase 1 of the Waterman neighborhood revitalization in the City of San Bernardino. National Community Renaissance is the developing partner and HACSB is contributing 75-Project Based Vouchers to support this development.

The project funding sources are outlined in the table. The project is currently under construction the anticipated completion is Summer 2016.


CountyCapital GrantLibrary GrantLoanMHSA

9% Tax Credits

$ 7,911,8172,705,0005,871,0001,338,315

15,751,880

Amount

$33,578,012Total


4% Tax Credit Equity(PNC)

Permanent Tax ExemptLoan (Chase)

Housing Partners 1 Loan

HACSB Loan

Federal Home LoanBank AHP Grant

Deferred Developer Fee

$ 13,087,853

10,860,000

6,600,000

1,000,000

672,000

1,847,027

Amount

$34,066,880Total


HUD Loan

City HOME Loan

County HOME

HACSB Loan

Deferred Fee

9% Tax Credits

$10,495,497

1,500,000

810,000

1,000,000

394,790

12,424,223

Amount

$26,624,510Total

Valencia and 9th –Waterman NeighborhoodPhase 1San Bernardino, CA

Ivy at College ParkApartmentsChino, CA

Neighborhood StabilizationProgram PartnershipSan Bernardino, CA

Loma Linda VeteransHousing / Meta HousingPartnershipLoma Linda, CA

College Park is a 470-acre Master Planned Community in the City of Chino, with two phases of this community dedicated to affordable housing. Phase I was completed in late 2014 and financing for Phase II was assembled in 2015. Phase II consists of 195 affordable units to be built on 9 acres.

In October of 2015, HACSB approved the award of 8-Project Based Vouchers to Bridge Housing and HPI to support the second phase of Ivy at College Park, an affordable family housing development in Chino. This marks the first partnership between HACSB and Bridge Housing, one of the largest nonprofit affordable housing developers in the country. Construction in Chino commenced in December and is slated for completion in early 2017.

In partnership with the City of San Bernardino, HPI, received $1.3 million in Neighborhood Stabilization Program funds to build 3 infill homes and rehab 2-duplexes and one 4-plex.

In 90-days, HPI turned around the ground up construction of the infill homes and all properties have now been sold to low-income, first-time homeowners. Below is an example of one of the newly constructed homes.

Pictured is the 4-plex building which after being foreclosed on had been boarded up and needed major rehabilitation. The property was purchased by HPI from the City of San Bernardino in 2014 for rehabilitation and operation as an affordable housing development. The City of San Bernardino provided approximately $525,000 in NSP funding for the complete rehabilitation of the blighted property. This property is now fully leased since it opened in September of 2014.

In November of 2015, HACSB, in partnership with META Housing and HPI, received an award of 50‐VASH Vouchers from HUD for the development of 77-units for homeless veterans in Loma Linda. META was awarded $3.8 million under the state of California’s Veteran’s Housing and Homelessness Prevention program for the project. The development team will apply for 4% Low Income Housing Tax Credits in early 2016 and hope to be under construction before the end of the year. The estimated $15.7 million project will take approximately 12-months to construct and will provide the largest number of Veteran housing units and onsite services in the City of Loma Linda.


Permanent Loan

City of Chino

DIF Credit

GP Equity

4% Tax Credits

$10,789,029

7,494,460

830,000

1,426

14,261,611

Amount

$33,376,526Total

Before

After New Kitchen

Total Units – All Entities & New Developments 1,125 Units

HPI – Development LocationsDevelopment

Vista Del Sol

Scattered Sites - Region 1



City

Redlands

Bloomington, Colton, Fontana, Loma Linda, Rancho Cucamonga, Redlands, San Bernardino, Yucaipa

Ontario, Montclair, Chino

Adelanto, Apple Valley, Hesperia, Joshua Tree,Twentynine Palms, Victorville, Yucca Valley

Address

1320 Webster Street

Various (19 developments)



# of Units

71

105

107

132

48 Developments 415

HPI Property Acquisitions LLC – Development LocationsDevelopment

Acacia Property

Chehalis Property

Desert Village

Kendall Drive Apts.

Kendall Park Apts.

Robert O. Townsend

City

Fontana

Apple Valley

Victorville

San Bernardino

San Bernardino

Montclair

Address

9590 Acacia Ave., #1-28

15876 Chehalis Rd., #1-30

14469 Rodeo Dr., #1-46

1416 Kendall Dr., #2-38

2490 Kendall Dr.

9190 Monte Vista, #101-226

# of Units

28

30

46

37

52

486 Developments 241

Development PartnershipsDevelopment

Valencia Grove Phase I

Horizons at Yucaipa Phase I

Bloomington MixedGenerational Phase 1

Bloomington Phase 2

Fontana Family

Val-9 (Waterman GardensPhase I offsite)

City

Redlands

Yucaipa

Bloomington

Bloomington

Fontana

San Bernardino

Property Owner

Valencia Grove, L.P.

UHC 00539 Yucaipa, L.P.

Bloomington I Housing Partners, L.P.

Bloomington I Housing Partners, L.P.

Fontana Sierra Housing Partners, L.P.

Val 9 Housing Partners, L.P.

HPI Role/HPI Ownership Entity

Managing General Partner/HPI Valencia Grove, LLC

Managing General Partner/Housing Partners I, Inc.

Co-General Partner/HPI Bloomington LLC

Co-General Partner/HPI Bloomington LLC

Managing General Partner

Co-Class A Limited Partner/Waterman Affordable I LLC

# of Units

85

50

106

84

69

75

6 Developments 469

Property PortfolioFuture Projects

Partnering with HPI

HPI has multiple projects in the planning process, including: second phases of Valencia Grove, Waterman Gardens, and Horizons at Yucaipa; new projects with Related in Fontana and Rialto. Stay tuned for updates on these exciting projects.

HPI can work with you to increase affordable housing in your city, create new vibrant communities, and enhance the attractiveness of your area’s housing. HPI was organized and operates exclusively for charitable purposes as a 501 (c)(3) entity to serve the community with affordable housing for families in San Bernardino County. Contact HPI today at (909) 332-6325.

715 eAst brier drive, sAn bernArdino, cA 92408 | 909.890.0644

Providing AffordAble Housing for low And ModerAte-incoMe...

Documents

Transcript of Providing AffordAble Housing for low And ModerAte-incoMe...