BUENA PARK, CA-Parking Landing Apartment Homes, a 70-unit, four-story, affordable-housing project here, has opened. The energy-efficient project is believed to be the first in Orange County to incorporate a substantial, 20,000-square-foot sustainable “green roof.”
As GlobeSt.com previously reported, developer Jamboree Housing Corp. broke ground on the housing project in April 2012 on a 2-acre urban infill site at 8850 La Palma Ave. owned by the City of Buena Park. At the time, Jamboree told GlobeSt.com that soft development costs were estimated to be $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.
WNC has provided $7.5 million in low-income housing tax credit equity to fund the project. In addition, the property received a tax-credit allocation under California's Title 24 energy-conservation regulation, requiring that the property's energy-efficiency exceed 15%; Park Landing is expected to achieve greater than 21% energy efficiency.
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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.
