CalCHA issues governmental purpose bonds for the purpose of financing projects that provide, preserve and support affordable local housing for low-income, moderate-income and middle-income families and individuals. The Lists; Real Estate; Health Care; Tech; Finance; Manufacturing; Special Editions. It weakens the public trust and confidence, and prevents the HousingAuthority from assisting eligible families. Households are enrolled into the program from the Section8 Waiting List. CalCHA partners with Catalyst Housing Group, LLC and issues $179M to acquire Aster in Dublin, CA Read more Apr 23 2021 Catalyst Housing was slated to be the manager for both of those properties. Waterscape Apartments AnnouncementLINK TO THE PROPERTY. The City does not fund the Section 8 program. Our Access Center located at 1851 Tyburn Street in Glendale, California is the heart of our organization. The deal is California Community's second recent acquisition in Glendale. Sacramento, CA 95814, P: CCRC will improve outcomes for low-income families, seniors and residents with special needs throughout California by facilitating private capital flow from our investors using a housing first model. Workforce housing (sometimes referred to as middle-income or moderate-income housing) is housing for individuals and families typically earning between 60% and 120% AMI. CSCDA CIA Millennium South Bay AnnouncementLINK TO THE PROPERTY. The 1,798 sq. There is extra living space upstairs including a family room and a bonus room. December 29, 2020 The CSCDA Community Improvement Authority is pleased to announce the issuance of $116,825,000 in tax-exempt Essential Housing Revenue Bonds to acquire the CTR City Apartments, located in Anaheim, California. Suspiciousactivity can be reported to our office for investigation. The deal is California Communitys second recent acquisition in Glendale. Nominations; Custom Publishing; The City of Glendale is not distributing applications and the City of Glendale is not accepting applications, Mailed applications must be postmarked by 5/14/23, The first 300 age eligible applicants will be entered into a lottery and added to the waitlist. 11150 Santa Monica Boulevard, Suite 350 February 9, 2021 The CSCDA Community Improvement Authority is pleased to announce the issuance of $181,010,000 in tax-exempt Essential Housing Revenue Bonds to acquire Parallel Apartments, located in Anaheim, California. 2022 Events; Event Recaps; Past Events; Custom Content. She has done work with publications including The Orange County Register, The Real Deal and doityourself.com. In total, the Housing Authority services over 3,000 vouchers consisting of low income, disabled, or elderly households. 1400 K Street, Suite 400 (818) 548-3936. FOR INTERESTED TENANTS, A LIST OF PARTICIPATING PROPERTIES ARE LOCATED UNDER CIA PROJECTS. 11150 Santa Monica Boulevard, Suite 350 The transactions, completed in partnership with the California Community Housing Agency ("CalCHA"), will permanently transition the currently market-rate properties into rent-restricted housing . State leaders, as well as individual cities and counties have also recognized a serious shortage of workforce housing for those that have been termed the missing middle, individuals and families that earn too much to qualify for traditional affordable housing, but not enough to afford market rate rents in the communities where they work. California Community Housing Agency ("CalCHA") is a political subdivision of the State of California established by Kings County and the Housing Authority of Kings County, California under the Joint Exercise of Powers Act. 1818 Apartments AnnouncementLINK TO THE PROPERTY. Next on Lex, a 494-unit multifamily property in Glendale, has sold for $290 million.The site also includes roughly 8,000 square feet of ground-floor retail.The California Community Housing Agency purchased the property at 275 W. Lexington Drive from Cypress Equity Investments.Neither company responded to requests for comment.The property was 92% leased at the time of the off-market sale, according to CoStar Group Inc. CCRC has worked with for-profit and non-profit developers throughout California to increase the supply of affordable housing. Waterford Property Co. and the California Statewide Communities Development Authority have purchased a 507-unit luxury multifamily community in Glendale for $300 million.The new owners plan to convert the property at 633 N. Central Ave. into middle-income housing for tenants making between 80% and 120% of the areas median income.Were providing a housing solution for California cities, Sean Rawson, co-founder of Waterford Property Co., said in a statement. 141 N. Glendale Ave., Ste. CSCDA CIA Vineyard Gardens AnnouncementLINK TO THE PROPERTY. The program uses tax-exempt bonds to finance multifamily acquisitions. State agency acquired 494-unit Next on Lex, which will convert to workforce housing, Cypress Equity's Michael Sorochinsky and the Next on Lex complex (iStock). The. April 21, 2021 The CSCDA Community Improvement Authority is pleased to announce the issuance of $339,400,000 in tax-exempt Essential Housing Revenue Bonds to acquire Altana Apartments, located in Glendale, California. All Rights Reserved. Please enable JavaScript in your browser for a better user experience. Soua Vang Deputy Directory of Community Development/Economic Development. Northern California. The property, named the Oceanaire, is located at 150 W. Ocean Blvd.Waterford and the CSCDA plan to convert the complex into middle-income housing, with Waterford serving as the property administrator.Its part of a workforce housing finance program that CSCDA started last year. Since its inception, CSCDA has financed the construction or preservation of nearly 100,000 affordable units throughout California. Hannah Madans Welk is a managing editor at the Los Angeles Business Journal and the San Fernando Valley Business Journal. The Section 8 Housing Choice Voucher program is a federal program funded and administered by the Department of Housing and Urban Development (HUD). In addition to multifamily units, it has a central courtyard with a pool, park and barbecue area; a two-story fitness center, yoga studio; club room; and dog run. Westgate and The Hudson AnnouncementLINK TO WESTGATE PROPERTYLINK TO THE HUDSON PROPERTY. Parallel Apartments AnnouncementLINK TO PROPERTY. Los Angeles, CA 90025 Households are enrolled into the program from the Section 8 Waiting List. CSCDA CIA 777 Place AnnouncementLINK TO THE PROPERTY. The two downstairs bedrooms each have their own attached bathroom, exterior entrances, and wet bar, providing flexibility with these spaces. Glendale, CA 205 units . Entertaining in the back yard is easy with large patios, privacy and of course gorgeous views. CSCDA CIA Acacia AnnouncementLINK TO THE PROPERTY. As a mayor and advocate for affordable housing, I am looking forward to seeing this approach take shape in Glendale, City Councilmember Vrej Agajanian, who was mayor of Glendale at the time of the sale, said in a statement.Current Glendale Mayor Paula Devine added that rent has outpaced income, which has been felt by low-income and middle-income households.This model emphasizes good, practical ideas to help protect a part of our existing population who cannot afford rent, but do not qualify for assistance, she said in a statement.Next on Lex and the Brio arent the only recent sales in L.A. County where the owner is seeking to provide middle-income housing.Waterford Property Co. and the California Statewide Communities Development Authority recently purchased a 216-unit luxury apartment community in Long Beach for $120 million. DO NOT pay money in exchange for the promise of Section 8 assistance. Next on Lex Glendale, CA 494 Units. September 21, 2021 The CSCDA Community Improvement Authority is pleased to announce the issuance of $240,010,000 in tax-exempt Essential Housing Revenue Bonds to acquire Cameo Apartments and The Garrison Apartments, both located in Orange, California. California Community Housing Agency Senior Essential Housing Revenue Bonds, Series 2021A-1 (Glendale Properties), Junior Essential Housing Revenue Bonds, Series 2021A-2 (Glendale Properties) and Subordinate Essential Housing Revenue Bonds, Series 2021B (Glendale Properties) Dated as of March 1, 2021 Recognized as a leader in the state in these programs, CCRC has an experienced staff to meet the needs of its investor banks, developers and those communities we serve. WEBSITE DESIGN BY GRANICUS - Connecting People and Government. It is also being converted to middle-income housing for people making 80% to 120% of the areas median income.CSCDA is acquiring these multifamily projects using tax exempt bond financing instead of public subsidies.This program is just being rolled out across California, but were already realizing its benefits since the reduced rent can be put into place immediately. Please switch to a supported browser or download one of our Mobile Apps. From the guest chefs who prepare and serve hot meals . /PRNewswire/ -- Catalyst Housing Group is expanding its transformative middle-income Essential Housing model across the state, with the acquisition of two. CSCDA CIA operates the largest workforce housing program in California and has acquired and converted more than 7,700 units for low- and middle-income tenants. California Community was established in 2019, and over the last few years has pushed for the development of workforce housing, or housing roughly priced for households with incomes around the median income for the area. This certificate may be relied upon until July 1, 2025. CCRC Mission CCRC will improve outcomes for low-income families, seniors and residents with special needs throughout California by facilitating private capital flow from our investors using a housing first model. Union South Bay AnnouncementLINK TO PROPERTY. The transactions, completed in partnership with the California Community Housing Agency ("CalCHA"), . Working as a team, we can remove ineligibleindividuals from receiving government assistancefraudulently. Founded in 1989 with support from the Federal Reserve Bank of San Francisco and major banks throughout California, CCRC is Californias premier multifamily affordable housing lender; responding to Californias statewide affordable housing crisis is our business. Workforce housing properties were acquired by the cities of Glendale and Pasadena from the issuance of more than $481.5 million in tax-exempt Essential Housing Revenue Bonds through the California Statewide Communities Development Authority's (CSCDA) new Workforce Housing Program. CalCHA has selected a Program Administrator with more than 30 years of experience in tax-exempt governmental purpose, private activity and municipal finance, including post-issuance compliance requirements. CalCHA is represented by and will rely on its municipal advisor GPM Municipal Advisors, LLC ("GPM") to provide advice on proposals from financial services firms concerning the issuance of municipal securities and municipal financial products. An affordable housing property has been acquired for middle-income residents in the city of Glendale from the issuance of more than $339 million in tax-exempt bonds through the California Statewide Communities Development Authority's (CSCDA) new Workforce Housing Program. Government Departments Community Development. These projects continue to be very successful both in terms of design and operations. Phone: 818.548.3936, Counter Hours: February 26, 2021 The CSCDA Community Improvement Authority is pleased to announce the issuance of $195,965,000 in tax-exempt Essential Housing Revenue Bonds to acquire Jefferson Platinum Triangle Apartments, located in Anaheim, California. Catalyst Housing Group, in partnership with California Community Housing Agency (CalCHA), has completed the acquisition of two Southern California multifamily communities and one. The type of housing is meant to fill a gap between high-priced market-rate homes and government subsidized low-income properties. March 14, 2022 The CSCDA Community Improvement Authority is pleased to announce the issuance of $95,641,006 in tax-exempt Essential Housing Revenue Bonds to acquire Towne at Glendale Apartments, located in Glendale, California. CalCHA works effectively and efficiently to satisfy the requirements of the government approval process. Dubbed Altana, the Central Avenue property is the fourth and largest community acquired as part of CSCDAs middle-income housing program. (916) 658-8200 To report fraud anonymously, contact the Glendale Section 8 Fraud Hotline at (818) 548-6442 orvia email at: section8fraud@glendaleca.gov. We provide immediately funded loan programs for acquisition; intermediate programs that provide acquisition, rehabilitation and permanent financing for existing housing stock in need of repair; and forward commitment programs for planned new construction. CalCHA remits excess project cash flows and provides a purchase option to the local agency prior to bond termination. The Link AnnouncementLINK TO THE PROPERTY. She has done work with publications including The Orange County Register, The Real Deal and doityourself.com. Cypress Equity bought Next on Lex from Century West Partners, which completed the project in 2019. She previously covered real estate for the Los Angeles Business Journal. California Community Housing Agency CalCHA partners with Catalyst Housing Group, LLC and issues $444M to acquire Glendale Properties in Glendale, CA Mar 31, 2021 Back Home Contact Us Privacy Policy Terms of Service Copyright 2023, California Community Housing Agency. LARKSPUR, Calif., April 1, 2021 Catalyst Housing Group is expanding its transformative middle-income Essential Housing model across the state, with the acquisition of two multifamily housing communities in Southern California and its fifth property in Northern California. The projects will be converted to rent-restricted units for low and middle-income tenants. Sequoia Equities sold the 205-unit Brio Apartments at 546 W. Colorado St. in Glendale, California, for $110 million, or about $537,000 per unit, to California Community Housing Agency. All rights reserved 2023 The Real Deal is a registered Trademark of Korangy Publishing Inc. Watch: Developer Patrick Carroll "spits" on restaurant manager, Connecticut private island sells for $3.5M. The Glendale Housing Authority implemented temporary measures to help minimize and prevent the spread of COVID-19 until further guidelines are released. She previously covered real estate for the Los Angeles Business Journal. The adjacent lot, included in the sale, provides plenty of flat land to expand the yard, install a pool, or perhaps build another home. Catalyst Housing Group acts as an asset manager for the agency.The Next on Lex and Brio acquisitions represent Catalysts expansion into Southern California. Waterford Property Co. and the California Statewide Communities Development Authority have purchased a 507-unit luxury multifamily community in Glendale for $300 million. Chula Vista, County of Marin, Glendale Housing 2021-03-10 Item #10A Page 2 of 39. To speak with a Relationship Manager, please call 818 550-9800. Meet Glendale's Section 8Landlords and Tenants, Meet Section 8 Landlords From Around the Country. K. 1 Dixon, Diane Newport Beach District 15 0 Espinoza, Rose La Habra OCCOG 1 1 Public benefit programs, such as Section 8 housing, arevulnerable to fraud. Proposals may be addressed to CalCHA, care of any of the Program Administrators listed on CalCHAsContact Uspage. Public agencies have gobbled up residential units in Glendale to create workforce housing. At least two other recently built properties sold this year to state-funded investors for workforce housing conversions. Glendale Silvercrest Residences will open its waitlist for 2 weeks beginning May 1, 2023 May 14, 2023. State of California Department of Housing and Community Development 2020 W. El Camino Ave., Suite 500 Sacramento, CA 95833 Phone: (916) 263-0256 Email Website Cities City of Alhambra Ms. Jessica Binnquist, Assistant City Manager 111 S. First St. Alhambra, CA 91801-3702 Phone: (626) 570-5011 Fax: (626) 281-2248 City of Anaheim Sacramento, CA 95814, P: CSCDA CIA Monterey Station AnnouncementLINK TO THE PROPERTY. CalCHA is governed by the Kings County Board of Supervisors and requires local government oversight and approval for financings to ensure accountability and transparency. The California Community Housing Agency (CalCHA)4is the State's first public agency focused exclusively on the production, preservation, and protection of middle-income housing. 100 West Broadway, Suite 1000, Glendale, CA 91210 Tel:818.550.9800 Fax:818.550.9806 www.e-ccrc.org. By publicly posting the following written disclosure, the California Community Housing Agency ("CalCHA") intends that market participants receive and use it for purposes of the independent registered municipal advisor exemption to the SEC Municipal Advisor Rule. Additionally, no existing tenants are displaced under the program. Catalyst Housing Group, California Community Housing Agency, CalCHA, Northern California, Southern California, Glendale, Santa Rosa, Livermore, Hayward, Larkspur . Jefferson Apartments AnnouncementLINK TO PROPERTY. This program benefits essential workers such as teachers, police officers, firefighters and others who are important to the fabric of a community, yet many times cant afford to live in the very cities they serve.Waterford will serve as the buildings property administrator, and current tenants with expiring leases who meet the income requirements will be able to participate in the program. Catalyst Housing Group will manage Brio and Next on Lex on behalf of the state, according to the report. 323-549-5225, Los Angeles Business Journal | Website by Web Publisher PRO. The state-funded California Community Housing Agency was established two years ago; in April, just before closing this deal, the agency also bought another apartment complex property in Glendale. The California Community Housing Agency ("CalCHA") is a joint powers authority created in January 2019 to provide, preserve, protect and support middle-income housing production . The City actively pursues allegations of fraud. If you are approached by someone promising Section 8 assistance in any way in exchange for money, you are to ignore the request and report the activity to the Glendale Section 8 Fraud Hotline (818) 548-6442 or via email at section8fraud@glendaleca.gov. These properties are then converted to income and rent-restricted units for moderate/middle income households, which are generally households earning 80% to 120% of AMI. The Glendale Housing Authority is authorized for 1,592 Section 8 Vouchers. The agency bought the 205-unit Brio complex from Sequoia Equities earlier this month. September 14, 2021 The CSCDA Community Improvement Authority is pleased to announce the issuance of $84,275,000 in tax-exempt Essential Housing Revenue Bonds to acquire Waterscape Apartments, located in Fairfield, California. Fraud hurts everyone. Please enable JavaScript in your browser for a better user experience. The City does not fund the Section 8 program. Waterford Property bought the Oceanaire complex in Long Beach in March with the help of tax-exempt bonds from the California Statewide Communities Development Authority. This funding was approved by the United States Congress in 2021 as part of the American Rescue Plan Act of 2021 to address the need for homelessness assistance and supportive services for the following Qualifying Populations (QPs): 1. F: (916) 658-8240. PLEASE CONTACT THE PROPERTY MANAGER FOR LEASING INFORMATION There are views from almost every room of the house including the oversized formal living room featuring a beautiful fireplace and a set of 15 windows wrapped around one corner. Glendale, CA 91206 323-549-5225, Los Angeles Business Journal | Website by Web Publisher PRO. Another apartment complex has been acquired that will be converted into workforce housing. The Waiting List has been closed sinceJanuary 2001 and no new applications have been taken. Devine, Paula Glendale District 42 1. Catalyst is focused on affordably and sustainably housing our essential middle-income workforce, Jordan Moss, founder of Catalyst Housing Group, said in a statement.He added that the acquisitions would provide residents with rent-restricted housing and protect people from being displaced.We are excited to take this step and increase housing opportunities for middle-income households. Annual rent increases are capped at no more than 4%, which is significantly less than the rent limits under AB1482, the recently adopted State tenant protection legislation.
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