July 15, 2019
ALAMEDA, CA–Last week the City of Alameda, along with Eden Housing and Alameda Point Partners, celebrated the groundbreaking of Alameda Point Senior Apartments, a 60-unit affordable rental community for seniors age 62 and older located at Alameda Point’s Site A development project in Alameda. Site A is a $1 billion mixed-use, transit-oriented waterfront development on the site of the former Naval Air Station Alameda, which closed over 20 years ago.
“We are pleased to be moving forward with an affordable development in the center of this vibrant community,” said Linda Mandolini, President of Eden Housing. “We appreciate the community’s and city’s support, and value the strong partnership and assistance of Alameda Point Partners.”
Alameda Point Partners (APP) is a joint venture between Managing Partner Trammell Crow Residential (TCR), a division of Dallas-based Crow Holdings, Los Angeles-based developer Cypress Equity Investments (CEI), and San Francisco Bay Area-based commercial developer srmERNST Development Partners. Eden Housing is the affordable non-profit housing developer for Site A.
According to Stephanie Hill, Vice President of Development of TCR’s Northern California division and a member of APP, Alameda Point Senior Apartments will be among the first buildings constructed as part of the larger Alameda Point Site A development, led by master developer APP.
”With the construction commencement of the 60-unit Senior Apartments, Eden Housing is on its way to delivering the first phase of Site A’s low and very-low income housing requirement,” Hill continues. “With the future delivery of Eden Housing’s neighboring 70-unit Alameda Point Family Apartments, residents of both affordable communities will have convenient access to a variety of amenities including bus rapid transit, the new ferry terminal, which is expected to be completed in early 2020, parks, a secondary school, grocery store and pharmacy.” KTGY Architecture + Planning is the designer of both buildings.
Alameda Point Senior Apartments includes 48 one-bedroom and 12 two-bedroom apartment homes, which will be available to households earning up to 20% to 60% of the Alameda County Area Median Income. Thirty units will serve seniors experiencing homelessness, of which 28 will serve veterans exiting homelessness through the HUD Veterans Affairs Supportive Housing vouchers administered by the Alameda Housing Authority as well as California’s Veterans Housing and Homeless Prevention Program. Supportive services will be delivered to the residents through a collaboration between Operation Dignity, Eden Housing Resident Services, Inc. and the VA.
Amenities at Alameda Point Senior Apartments include a community room with a kitchen, a common courtyard, laundry facility, community garden space, shared paseo with the adjacent family development, manager’s office as well as services offices.
This $36 million residential community development is being built using the latest green building techniques and materials, and incorporates a number of green features designed to ensure its long-term energy efficiency and sustainability. The development will feature a photovoltaic system that will help power common area electricity, a solar thermal system for domestic hot water heating, bioretention basins for stormwater, a bicycle storage room and electric vehicle charging stations. The apartment homes will be energy-efficient and utilize low-flow plumbing fixtures to reduce water consumption. The development is being built in accordance with the GreenPoint Rated Program with the aim of achieving a Gold rating.
Funding for the $36 million development is provided by an Alameda County Measure A1 Bond Loan, a State of California Veterans Housing and Homelessness Prevention Program loan, a contribution by Alameda Point Partners and the City of Alameda, operating support from the Housing Authority of the City of Alameda, a Federal Home Loan Bank of San Francisco Affordable Housing Program loan, 9% Low Income Housing Tax Credits from the California Tax Credit Allocation Committee, and debt and equity financing from Union Bank. The project is expected to create over 73 construction jobs and 19 ongoing jobs.
“The Housing Authority of the City of Alameda is pleased to partner with Eden Housing to deliver this much-needed supportive housing and to expand the overall stock of affordable housing in Alameda,” said Vanessa M. Cooper, Executive Director of the Alameda Housing Authority.
The project’s designer and executive architect is the international award-winning firm KTGY Architecture + Planning. The general contractor is James E. Roberts-Obayashi Corp. Completion is slated for July 2020.
The mission of Eden Housing is building and maintaining high-quality, well-managed, service-enhanced affordable housing communities that meet the needs of lower-income families, seniors, and persons with disabilities. In its 50 years of service in California, non-profit Eden Housing has provided a home for more than 100,000 people. Eden Housing is the long-term owner-operator of its developments and is committed to preserving and maintaining its buildings as community assets and supporting residents with a range of services.
Trammell Crow Residential (TCR) is a national multifamily real estate developer with a local presence in 13 key U.S. markets.