Jamboree Targets Work Force in New Complex

BREA, CA-Jamboree Housing Corp. of Irvine plans to break ground Dec. 1 on a new 94-unit affordable housing complex called Bonterra that will be designed to provide work force housing for families earning between 30% and 60% of the area median income. The new project will follow Jamboree's recently opened Greenleaf Apartments in Anaheim, a 20-unit project also designed for families earning between 30% to 60% of area median income.

Bonterra will consist of garden-style apartments within the new Blackstone master-planned community, currently under development by Shea Homes and Standard Pacific Homes. The new property comprises seven three-story buildings with 21 one-bedroom, 34 two-bedroom, and 39 three-bedroom apartments. Designed to achieve a LEED Silver rating, the complex is scheduled for completion in the fall of 2011. The Brea work force is estimated to include 7,500 workers within 1.5 miles of the development site.

Financing for the project consists of funds from tax exempt bonds, California Tax Credit Allocation Committee (TCAC) 4% federal tax credits syndicated by Merritt Community Capital Corp., a $14 million construction loan and a $4 million permanent loan from Bank of America, construction and permanent financing from the City of Brea totaling $1.2 million, and a County of Orange permanent loan of $4 million including $2 million in HOME funds that was funded at start of construction.

Financing also consists of Multifamily Housing Program (MHP) funds of $7.7 million from California’s Department of Housing & Community Development (HCD), and American Recovery & Reinvestment Act (ARRA) funds of $7.8 million as a bridge loan to guarantee HCD’s permanent loan commitment.KTGY Group, Inc. of Irvine, CA is the architect of Jamboree’s new neighborhood and Advent Companies of Mission Viejo, CA is the general contractor.

Jamboree has worked with the Brea Redevelopment Agency, Orange County Housing and Community Services, California’s Department of Housing and Community Development, the California Tax Credit Allocation Committee (TCAC), Bank of America, and Merritt Capital to create the new project, according to Laura Archuleta, Jamboree’s president.

The newest work force housing community to be built in Orange County, Bonterra is designed to include a 3,500-square-foot community recreation center for use by Jamboree residents as well as landscaped community spaces for outdoor recreation. The building amenities include property management offices and classroom space designed for resident services to be provided by Housing with Heart, Jamboree’s nonprofit resident services group. Additional amenities include community meeting rooms, a computer lab, a swimming pool with patio area, a tot lot, barbecue/picnic areas, and a central laundry facility.

As a component of the Blackstone master plan, Jamboree’s work force housing component is being built as a requirement of Tonner Hills’ Affordable Housing Implementation Agreement with the City of Brea. “This new neighborhood is an important addition to Brea’s workforce housing program and it also provides the affordable housing necessary for the master developer to meet its affordable housing obligation to the city and county as part of the Tonner Hills Development Agreement,” Archuleta said. “Securing all necessary approvals and preparing the site for development has been a long and challenging process that is now complete. This is what public/private partnerships are all about.”

The Greenleaf Apartments, at 2048 W. Greenleaf Ave. at the intersection of Greenleaf and Glenoaks avenues in Anaheim, is the third affordable housing community on which the City of Anaheim and Anaheim Redevelopment Agency have partnered with Jamboree. The development site was formerly a freeway remnant parcel owned by the Orange County Transit Authority.

In addition to the 20 garden-style apartments within two residential buildings, the complex includes a separate 1,786-square-foot recreation center that features resident meeting space, a computer lab, a tutoring center and a property management office. The unit mix consists of six one-bedroom, eight two-bedroom, and six three-bedroom apartments ranging from approximately 743 to 1,304 square feet.Archuleta notes that the Greenleaf project was built on an urban infill site that would otherwise sit empty. “I can’t think of a better use for this land,” she said.

A key source of funding for Greenleaf is Enterprise Community Partners, Inc., and its affiliated companies, Enterprise Community Investment and Enterprise Community Loan Fund. Enterprise served as the tax credit equity investor in Greenleaf and has also been an investor in three other Jamboree communities in California