$22M Orange County Housing Project Moves Dirt

BUENA PARK, CA-Affordable housing developer Jamboree Housing Corp., recently broke ground on Park Landing Apartment Homes. The housing project is located on a long-abandoned commercial site adjacent to a residential neighborhood. It will consist of 70 rental apartment homes for working families earning between 30% and 60% of the county’s area median income.

The multifamily, four-story property will be developed on a two-acre urban infill site at 8850 La Palma Ave. owned by the City of Buena Park, and is slated for a July 2013 grand opening. Jamboree Housing tells GlobeSt.com that soft development costs are $6.3 million with hard construction at $12.12 million and land at $3.6 million for a total developmental cost of around $22 million.