An affordable housing property has been acquired for middle-income residents in the city of Glendale from the issuance of more than $339 million in tax-exempt bonds through the California Statewide Communities Development Authority's (CSCDA) new Workforce Housing Program. CalCHA is governed by the Kings County Board of Supervisors and requires local government oversight and approval for financings to ensure accountability and transparency. Waterford Property Co. and the California Statewide Communities Development Authority have purchased a 507-unit luxury multifamily community in Glendale for $300 million.The new owners plan to convert the property at 633 N. Central Ave. into middle-income housing for tenants making between 80% and 120% of the areas median income.Were providing a housing solution for California cities, Sean Rawson, co-founder of Waterford Property Co., said in a statement. 11150 Santa Monica Boulevard, Suite 350 Chula Vista, County of Marin, Glendale Housing 2021-03-10 Item #10A Page 2 of 39. Peter Zovak oversees CDD's Housing Division and the Neighborhood Services Section. FOR INTERESTED TENANTS, A LIST OF PARTICIPATING PROPERTIES ARE LOCATED UNDER CIA PROJECTS. Please switch to a supported browser or download one of our Mobile Apps. All rights reserved 2023 The Real Deal is a registered Trademark of Korangy Publishing Inc. Watch: Developer Patrick Carroll "spits" on restaurant manager, Connecticut private island sells for $3.5M. Suspiciousactivity can be reported to our office for investigation. Additionally, no existing tenants are displaced under the program. All Rights Reserved. This funding was approved by the United States Congress in 2021 as part of the American Rescue Plan Act of 2021 to address the need for homelessness assistance and supportive services for the following Qualifying Populations (QPs): 1. CalCHA has retained an independent registered municipal advisor. Catalyst Housing Group will manage Brio and Next on Lex on behalf of the state, according to the report. Sequoia Equities sold the 205-unit Brio Apartments at 546 W. Colorado St. in Glendale, California, for $110 million, or about $537,000 per unit, to California Community Housing Agency. March 25, 2021 The CSCDA Community Improvement Authority is pleased to announce the issuance of $135,730,000 in tax-exempt Essential Housing Revenue Bonds to acquire Oceanaire Apartments, located in Long Beach, California. Workforce housing (sometimes referred to as middle-income or moderate-income housing) is housing for individuals and families typically earning between 60% and 120% AMI. PLEASE CONTACT THE PROPERTY MANAGER FOR LEASING INFORMATION 1400 K Street, Suite 400 CSCDA CIA 777 Place AnnouncementLINK TO THE PROPERTY. Dubbed Altana, the Central Avenue property is the fourth and largest community acquired as part of CSCDAs middle-income housing program. CCRC Mission CCRC will improve outcomes for low-income families, seniors and residents with special needs throughout California by facilitating private capital flow from our investors using a housing first model. Glendale, CA 91206 PDF Community, Economic and Human Development Committee June 3, 2021 3200 Menlo Dr, Glendale, CA 91208 | MLS #PF23071435 | Zillow State leaders, as well as individual cities and counties have also recognized a serious shortage of workforce housing for those that have been termed the missing middle, individuals and families that earn too much to qualify for traditional affordable housing, but not enough to afford market rate rents in the communities where they work. From the guest chefs who prepare and serve hot meals . She previously covered real estate for the Los Angeles Business Journal. CSCDA CIA Park Crossing AnnouncementLINK TO THE PROPERTY. Glendale Silvercrest Residences will open its waitlist for 2 weeks beginning May 1, 2023 May 14, 2023. CTR City Anaheim AnnouncementLINK TO PROPERTY, December 22, 2020 The CSCDA Community Improvement Authority is pleased to announce the issuance of $70,675,000 in tax-exempt Essential Housing Revenue Bonds to acquire the Renaissance at City Center Apartments, located in Carson, California.Renaissance Carson AnnouncementLINK TO PROPERTY, Filling the Missing Middle in LAs Housing Market is Focus of New Government Program (KCRW), Anaheim Will Cut Rents on More than 1,000 Middle Income Apartments (Orange County Register), California Bond Program Helps Cities Secure Middle Income Housing Without Upfront Cost (Next City), Anaheim Introduces New Approach to Creating Affordable Housing (Fox 11 Good Day LA), Proyecto en Anaheim busca reducir el alquiler de m? Annual rent increases are capped at no more than 4%, which is significantly less than the rent limits under AB1482, the recently adopted State tenant protection legislation. California Community Housing Agency ("CalCHA") is a political subdivision of the State of California established by Kings County and the Housing Authority of Kings County, California under the Joint Exercise of Powers Act. The Waiting List has been closed sinceJanuary 2001 and no new applications have been taken. Through CSCDA CIAs Workforce Housing Program, government bonds are issued to acquire market-rate apartment buildings. Catalyst and CalCHA Add 1,000+ Units of Essential Housing Worth >$525MM The Glendale Housing Authority receives funding from HUD on an annual basis to pay for rental assistance subsidies on behalf of lower income clients. Valley 200 - 2022; Valley 200 Archive; Events. California Community was established in 2019, and over the last few years has pushed for the development of workforce housing, or housing roughly priced for households with incomes around the median income for the area. Waterford Place AnnouncementLINK TO THE PROPERTY. PDF Agenda - Tuesday, May 10, 2022 - Palo Alto, California Fraud hurts everyone. Glendale Apartment Complex Sells for $300 Million CalCHA works effectively and efficiently to satisfy the requirements of the government approval process. Adjacent Vacant Lot with usable flat land included, Huge Views, Extensively remodeled 1920s craftsmen in one of the best neighborhoods in Glendale, Montectio Park. The Glendale Housing Authority is authorized for 1,592 Section 8 Vouchers. MLS # SB23071382 CSCDA CIA Theo AnnouncementLINK TO THE PROPERTY. Authority, and the Housing Authority of Santa Barbara have become Additional . What's New | California Community Housing Agency - CalCHA December 1, 2021 The CSCDA Community Improvement Authority is pleased to announce the issuance of $188,160,000 in tax-exempt Essential Housing Revenue Bonds to acquire Millennium South Bay Apartments, located in Hawthorne, California. The Glendale Housing Authority has supported the development of numerous affordable housing projects using affordable housing funding, since its inception in 1975. Phone: 818.548.3936, Counter Hours: December 9, 2021 The CSCDA Community Improvement Authority is pleased to announce the issuance of $175,260,000 in tax-exempt Essential Housing Revenue Bonds to acquire Monterey Station Apartments, located in Pomona, California. CSCDA CIA Millennium South Bay AnnouncementLINK TO THE PROPERTY. Cypress Equity Sells Glendale Apartments For $300M - The Real Deal Los Northern California. 141 N. Glendale Ave.,Ste. The 1,798 sq. Copyright 2023, California Community Housing Agency. This browser is no longer supported. Sitting between the living room and the fully updated kitchen is the formal dining room with a view and passthroughs opening up the space. PDF Viewing Instructions - cdiacdocs.sto.ca.gov December 8, 2021 The CSCDA Community Improvement Authority is pleased to announce the issuance of $356,730,000 in tax-exempt Essential Housing Revenue Bonds to acquire Westgate Phase 1 Apartments, located in Pasadena, California. The "Essential Housing" model has already created over 2,000 affordable rent-restricted rental units. These projects continue to be very successful both in terms of design and operations. All proposals received will be shared with CalCHA's municipal advisor. Affordable Housing Commercial Development Impact Fee, Landlord/Tenant Rights & Responsibilities(PDF), Application for Landlord/Tenant Ad-Hoc Committee, Contact Us: Please review the following highlights about the opening. Locally, the two purchased a 216-unit luxury apartment community in Long Beach for $120 million earlier this year.The property, dubbed the Oceanaire, is at 150 W. Ocean Blvd. California Community Housing Agency ("CalCHA") is a political subdivision of the State of California established by Kings County and the Housing Authority of Kings County, California under the Joint Exercise of Powers Act. Sacramento, CA 95814, P: CSCDA CIA Westgate Phase 1 AnnouncementLINK TO THE PROPERTY. In total, the Housing Authority services over 3,000 vouchers consisting of low income, disabled, or elderly households. Cameo and The Garrison AnnouncementLINK TO CAMEO PROPERTYLINK TO THE GARRISON PROPERTY. California Community Housing Agency CalCHA partners with Catalyst Housing Group, LLC and issues $444M to acquire Glendale Properties in Glendale, CA Mar 31, 2021 Back Home Contact Us Privacy Policy Terms of Service Copyright 2023, California Community Housing Agency. Government Departments Community Development Housing. Government Departments Community Development. By publicly posting the following written disclosure, the California Community Housing Agency ("CalCHA") intends that market participants receive and use it for purposes of the independent registered municipal advisor exemption to the SEC Municipal Advisor Rule. Households are enrolled into the program from the Section8 Waiting List. Workforce housing projects in Glendale and Pasadena funded through Cal The projects will be converted to rent-restricted units for low and middle-income tenants. The transactions, completed in partnership with the California Community Housing Agency ("CalCHA"), . Californias housing crisis remains critical and the State continues to experience a significant shortage of available affordable housing units. To speak with a Relationship Manager, please call 818 550-9800. December 29, 2020 The CSCDA Community Improvement Authority is pleased to announce the issuance of $116,825,000 in tax-exempt Essential Housing Revenue Bonds to acquire the CTR City Apartments, located in Anaheim, California. California Department of Housing and Community Development | California The state-funded California Community Housing Agency bought the development at 275 W. Lexington Drive. Catalyst Housing Group acts as an asset manager for the agency.The Next on Lex and Brio acquisitions represent Catalysts expansion into Southern California. Our soul is the thousands of volunteers, donors, and sponsors that enable our work. 633 E. Broadway, Room 201 . The agency bought the 205-unit Brio complex from Sequoia Equities earlier this month. The CSCDA Community Improvement Authority (CSCDA CIA), an affiliate joint powers authority, acquires public benefit oriented capital projects through the issuance of tax-exempt governmental purpose bonds. CalCHA partners with Catalyst Housing Group, LLC and issues $179M to acquire Aster in Dublin, CA Read more Apr 23 2021 The Brio complex, located at 546 W. Colorado St., has 205 units and was. Glendale, CA 91206. CalCHA partners with Unity Housing and issues $101M to acquire Twin Creeks Apartments in Antioch, CA, CalCHA partners with HCF Development, LLC and issues $127M to acquire K Street Flats in Berkeley, CA, CalCHA partners with Catalyst Housing Group, LLC and issues $152M to acquire Summit at Sausalito in Sausalito, CA, CalCHA partners with Catalyst Housing Group, LLC and issues $135M to acquire The Exchange at Bayfront Apartments in Hercules, CA, CalCHA partners with Catalyst Housing Group, LLC and issues $221M to acquire Fountains at Emerald Park in Dublin, CA, CalCHA partners with Catalyst Housing Group, LLC and issues $179M to acquire Aster in Dublin, CA, CalCHA partners with Catalyst Housing Group, LLC and issues $94M to acquire Mira Vista Hills in Antioch, CA, CalCHA partners with Catalyst Housing Group, LLC and issues $444M to acquire Glendale Properties in Glendale, CA, CalCHA partners with Catalyst Housing Group, LLC and issues $165M to acquire Creekwood in Hayward, CA, CalCHA partners with HCF Development, LLC and issues $101M to acquire Stoneridge Apartments in Walnut Creek, CA. (916) 658-8200 It is also being converted to middle-income housing for people making 80% to 120% of the areas median income.CSCDA is acquiring these multifamily projects using tax exempt bond financing instead of public subsidies.This program is just being rolled out across California, but were already realizing its benefits since the reduced rent can be put into place immediately. Since its inception, CSCDA has financed the construction or preservation of nearly 100,000 affordable units throughout California. Workforce Housing Program - CSCDA CCRC Vision Since inception, CCRC has approved over $1.5 billion in loans for affordable housing, financing more than 42,000 rental homes for individuals and families earning 60% or less of the area median income. CSCDA CIA Acacia AnnouncementLINK TO THE PROPERTY. Applications will only be accepted by Glendale Silvercrest Residences. CDD Administration | City of Glendale, CA - Glendale, California 100 West Broadway, Suite 1000, Glendale, CA 91210 Tel:818.550.9800 Fax:818.550.9806 www.e-ccrc.org. It was sold by Sequoia Equities Inc.CCHA is a state agency that was established in 2019. The California Community Housing Agency also recently purchased the Brio apartments in Glendale for $110 million. The two downstairs bedrooms each have their own attached bathroom, exterior entrances, and wet bar, providing flexibility with these spaces. Please enable JavaScript in your browser for a better user experience. CSCDA CIA Vineyard Gardens AnnouncementLINK TO THE PROPERTY. Next on Lex, a 494-unit multifamily property in Glendale, has sold for $290 million.The site also includes roughly 8,000 square feet of ground-floor retail.The California Community Housing Agency purchased the property at 275 W. Lexington Drive from Cypress Equity Investments.Neither company responded to requests for comment.The property was 92% leased at the time of the off-market sale, according to CoStar Group Inc. Waterford Property Co. and the California Statewide Communities Development Authority have purchased a 507-unit luxury multifamily community in Glendale for $300 million. Our Access Center located at 1851 Tyburn Street in Glendale, California is the heart of our organization. Meet Glendale's Section 8Landlords and Tenants, Meet Section 8 Landlords From Around the Country. FOR INTERESTED TENANTS, A LIST OF PARTICIPATING PROPERTIES ARE LOCATED UNDER CIA PROJECTS. The City of Glendale is not distributing applications and the City of Glendale is not accepting applications, Mailed applications must be postmarked by 5/14/23, The first 300 age eligible applicants will be entered into a lottery and added to the waitlist. Catalyst Housing was slated to be the manager for both of those properties. To speak with a Relationship Manager, please call 818 550-9800. Catalyst and CalCHA Add 1,000+ Units of Essential HousingWorth >$525MM HOME Contacts: California - Affordable Housing - CPD Sacramento, CA 95814, P: Westgate and The Hudson AnnouncementLINK TO WESTGATE PROPERTYLINK TO THE HUDSON PROPERTY. October 21, 2021 The CSCDA Community Improvement Authority is pleased to announce the issuance of $134,605,000 in tax-exempt Essential Housing Revenue Bonds to acquire Acacia Apartments, located in Santa Rosa, California. To report fraud anonymously, contact the Glendale Section 8 Fraud Hotline at (818) 548-6442 orvia email at: section8fraud@glendaleca.gov. 1400 K Street, Suite 400 Soua Vang Deputy Directory of Community Development/Economic Development. Ascencia | Lifting People Out of Homelessness Section 8 is a FREE federal program and it is illegal to sell vouchers. State agency acquired 494-unit Next on Lex, which will convert to workforce housing, Cypress Equity's Michael Sorochinsky and the Next on Lex complex (iStock). It weakens the public trust and confidence, and prevents the HousingAuthority from assisting eligible families. The Lists; Real Estate; Health Care; Tech; Finance; Manufacturing; Special Editions. Cypress Equity bought Next on Lex from Century West Partners, which completed the project in 2019. Los Angeles, CA 90025 California Community Housing Agency - CalCHA ?s de 1,000 apartamentos de clase media (Univision), City Council Approves Agreement To Rapidly Create 1,000+ Affordable Housing Units (Anaheim Independent), Standard Communities Converts Carson Apartments to Workforce Housing (Los Angeles Business Journal), Anaheim Multifamily to House Teachers, Essential Workers (Connect California), PLEASE CONTACT THE PROPERTY MANAGER FOR LEASING INFORMATION, The CSCDA Community Improvement Authority is pleased to announce the issuance of $135,730,000 in tax-exempt Essential Housing Revenue Bonds to acquire, CSCDA CIA Joint Exercise of Powers Agreement, CSCDA CIA Escondido Portfolio Announcement, CSCDA CIA Millennium South Bay Announcement, Reduced Rent for Middle Income Workers (ABC10 News San Diego), Pasadenas Missing Middle is Getting a Rent Break at these Two Projects (Pasadena Star News), Acquisition Funding to Create Moderate Income Housing (Housing Innovation Collaborative). June 9, 2021 The CSCDA Community Improvement Authority is pleased to announce the issuance of $215,685,000 in tax-exempt Essential Housing Revenue Bonds to acquire Union South Bay Apartments, located in Carson, California. CalCHA remits excess project cash flows and provides a purchase option to the local agency prior to bond termination. CSCDA CIA Monterey Station AnnouncementLINK TO THE PROPERTY. Catalyst Housing Group (Catalyst)/California Community Housing Agency (CalCHA) Middle Income Housing Financing Program Chair Marquez asked Ma'Ayn Johnson, SCAG staff, to introduce Jordan Moss, CEO, Catalyst Housing . All Rights Reserved. She has done work with publications including The Orange County Register, The Real Deal and doityourself.com. The Glendale Housing Authority implemented temporary measures to help minimize and prevent the spread of COVID-19 until further guidelines are released. Next on Lex Glendale, CA 494 Units. Workforce housing project in Glendale funded through Cal Cities-sponsored bond agencys new program, Governance, Transparency, and Labor Relations, Housing, Community, and Economic Development, Transportation, Communications, and Public Works, City Clerks New Law and Elections Seminar, Lesbian Gay Bisexual Transgender Queer (LGBTQ) Caucus. Ascencia has provided housing and services to over 12,000 homeless individuals and families since 2006. California Investments Save More Than 700 Affordable Homes from Losing Affordability Restrictions To ensure availability of affordable housing for lower-income Californians priced out of the rental market, the Department of Housing and Community Development (HCD) today announced the first of several awards from the new Portfolio Reinvestment Providing this access to capital allows individuals to live, work and raise their families in communities throughout California, creating a more economically diverse and stable statewide economy. DO NOT release personal financial information to strangers promising to provide Section 8. The type of housing is meant to fill a gap between high-priced market-rate homes and government subsidized low-income properties. Housing Authority/CDBG | City of Glendora Another apartment complex has been acquired that will be converted into workforce housing. If you are approached by someone promising Section 8 assistance in any way in exchange for money, you are to ignore the request and report the activity to the Glendale Section 8 Fraud Hotline (818) 548-6442 or via email at section8fraud@glendaleca.gov. The property is 92 percent leased. CCRC has worked with for-profit and non-profit developers throughout California to increase the supply of affordable housing. We specialize in programs for families, seniors, citizens with special needs and mixed-use developments. Hannah Madans Welk is a managing editor at the Los Angeles Business Journal and the San Fernando Valley Business Journal. Glendale's Multifamily Moment - San Fernando Valley Business Journal CalCHA is represented by and will rely on its municipal advisor GPM Municipal Advisors, LLC ("GPM") to provide advice on proposals from financial services firms concerning the issuance of municipal securities and municipal financial products. /PRNewswire/ -- Catalyst Housing Group is expanding its transformative middle-income Essential Housing model across the state, with the acquisition of two. Los Angeles, CA 90025 Monday - Friday Public benefit programs, such as Section 8 housing, arevulnerable to fraud. Never pay money for affordable housing programs. CSCDA CIA operates the largest workforce housing program in California and has acquired and converted more than 7,700 units for low- and middle-income tenants. CalCHA issues governmental purpose bonds for the purpose of financing projects that provide, preserve and support affordable local housing for low-income, moderate-income and middle-income families and individuals. Public agencies have gobbled up residential units in Glendale to create workforce housing. 8:00 AM to 5:00 PM, WEBSITE DESIGN BY GRANICUS - Connecting People and Government. This program benefits essential workers such as teachers, police officers, firefighters and others who are important to the fabric of a community, yet many times cant afford to live in the very cities they serve.Waterford will serve as the buildings property administrator, and current tenants with expiring leases who meet the income requirements will be able to participate in the program. Workforce housing project in Glendale funded through Cal Cities Union South Bay AnnouncementLINK TO PROPERTY. The property, named the Oceanaire, is located at 150 W. Ocean Blvd.Waterford and the CSCDA plan to convert the complex into middle-income housing, with Waterford serving as the property administrator.Its part of a workforce housing finance program that CSCDA started last year.