Ken Sauder Sauder: “Trying to provide services and housing to the homeless costs a fair amount of money, but it’s been proven that investing that money into permanent supportive housing is more cost effective than having them on the streets. That takes a lot of resources.”

SAN DIEGO—The City and housing commission here in San Diego are trying to address the homeless piece of affordable housing, but the amount of money it takes to develop this type of housing is greater than people realize, Wakeland Housing and Development Corp.’s president and CEO Ken Sauder tells GlobeSt.com. Through Xpera CM, a San Diego-based construction-management consulting firm, Wakeland recently completed construction on Atmosphere, Downtown San Diego’s newest high-rise project of affordable homes, and the community’s first tenants have begun to move in.

With a total cost of $79.3 million and construction valued at $60 million, the project includes a 12-story residential building with a rooftop terrace and three levels of underground parking in Downtown’s Cortez Hill neighborhood. Atmosphere includes 154 units of affordable housing for families earning between 30% and 60% of the San Diego Area Median Income, plus 51 units of permanent supportive housing specifically for adults requiring additional support due to homelessness, mental disability or age.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Carrie Rossenfeld

Carrie Rossenfeld is a reporter for the San Diego and Orange County markets on GlobeSt.com and a contributor to Real Estate Forum. She was a trade-magazine and newsletter editor in New York City before moving to Southern California to become a freelance writer and editor for magazines, books and websites. Rossenfeld has written extensively on topics including commercial real estate, running a medical practice, intellectual-property licensing and giftware. She has edited books about profiting from real estate and has ghostwritten a book about starting a home-based business.

More from this author

GlobeSt. Multifamily Fall 2024Event

Join the industry's top owners, investors, developers, brokers & financiers at THE MULTIFAMILY EVENT OF THE YEAR!

Get More Information
 

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.