X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

(To read more on the multifamily market, click here.)

LONG BEACH, CA-Simpson Housing Solutions has completed its 70-unit Belmont Meadows Apartments in Delano and the 91-unit fourth phase of its 284-unit Camellia Gardens in Bakersfield, both of them affordable apartment developments. Monthly rents at Belmont Meadows Apartments start as low as $334 for three-bedroom units, with rents at Camelia Gardens ranging from $257 to $607 for units that range from one to three bedrooms.

The Belmont Meadows project is at 150 Belmont St. in Delano and consists of both three- and four-bedroom apartments that range from 1,058 sf to 1,217 sf, all with two baths. Every apartment has been set aside for households earning a maximum of 30% to 60% of the area median income for Kern County, as published by HUD.

Michael Costa, president of Simpson Housing Solutions, notes that the Delano development is one of a growing portfolio of affordable family and senior apartment complexes that Simpson has developed in many smaller and rural towns in the Central Valley region of California. “These cities and towns need affordable housing just as much as more urban areas, if not more, because in most cases the existing housing stock is older, with fewer amenities,” Costa comments.

Belmont Meadows, designed by R.L. Davidson Architects, features a clubhouse and community room, a computer learning center, a fitness center and game room, laundry rooms, outdoor barbecue areas and a tot lot. SHS partnered with the nonprofit LINC Housing on the project, the total development cost of which was $14.16 million. Financing consisted of an allocation of $11.6 million in federal low-income housing tax credits, a permanent loan of $1.46 million and a developer note of $1.09 million.

Simpson developed the Camellia Gardens in partnership with the nonprofit Corporation for Better Housing. Designed by Culver City-based John Cotton Architects, the property is at 1750 Cheatham and comprises a mix of units ranging from one to three bedrooms that range from 528 sf to 1,010 sf.

All units have been set aside for households earning from 30% to 50% of the area median income for Kern County as established by HUD. Costa points out that the development was designed specifically “to meet the needs of working families with children” in an area where most existing multifamily housing is older and offers far fewer amenities.

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?

GlobeSt. APARTMENTS SPRING 2021Event

Join 1000+ of 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 © 2021 ALM Media Properties, LLC. All Rights Reserved.