el monte veterans village project city of el monte, ca 2013
TRANSCRIPT
El Monte Veterans Village Project
City of El Monte, CA2013
Discussion Points • Regional Veterans Housing Profile• Need for Veterans Housing • Project Description• Conceptual Design• Site Amenities• Programmatic Services• Developer Profile• Development Disposition
Agreement• Progress/Grand Opening• Q&A
Regional Veterans Housing Profile
• Los Angeles County has the largest population of military veterans in the nation
• More than 8,000 homeless veterans live in Los Angeles County
• Estimated that 400 homeless veterans reside in San Gabriel Valley
Need for Veterans Housing• Many current and returning veterans will be coming home• Veterans housing is primarily transitional in nature.• Private housing solutions do not provide wrap around
services• Meets City’s Housing Element and Consolidated Plan goals and objectives
Project Description
MERCY HOUSING VETERANS HOUSING PROJECTS
# of Units 41 one-bedroom studios apts.
Unit Size Approx. 485 - 510 sq. ft.
Building Height 3 stories/approx. 36 ft.
On-Site Support Services Yes
Property Manager Yes / 1 unit
Parking 41 stalls (16 covered/25 surface)
Conceptual Design
Street view from Stewart Street
Conceptual Design
Site Plan
Site Amenities
• VFW Hall • El Monte City Hall • MTA Bus Station• El Monte Valley Mall • El Monte Metrolink Station• Northgate Market • 99 cents Only Store• El Monte Adult School • Smart & Final• El Monte City Hall • Auto Zone Auto Parts• Local Banks • MTA Bus Stop #190 • Foothill Trans. Bus Stop #488• Santa Monica (10) Fwy • Central San Gabriel Valley Work Source Center
Programmatic Services• New Directions• Case Management Services• Vocational Support
• Computer/Technology Training• Family Reunification• Legal Services• Transportation Support• Job Training
Financing Sources• VASH Vouchers• Tax Credit Equity (TCAC)• City of Industry Housing Funds• Affordable Housing Program• HUD/City HOME Funding
Mercy Housing Developments• Boulevard Court - Sacramento, CA
Mercy Housing Developments• Johnston Center Residences -
Milwaukee
Mercy Housing Developments• Westbrook Plaza, San Francisco,
CA
Developer Profile – Mercy Housing• Founded in 1981 by the Sisters of
Mercy• Over 20 years of experience• One of the largest workforce housing
developers in the State• Created over 7,000 multifamily housing
units and 3,000 single family homes• Partnered with over 85 cities• Contact Ed Holder: (213) 743-5830
Development Disposition Agreement
Deal Points:• Loan Term - 55 years at 0%
interest per annum• $50k in Predevelopment Costs• Loan Amount - $411,224 in HOME
funds• Land disposition to Developer for
$825,000
Construction Progress• 80% Complete• Grand Opening: March 12, 2014
(10:00am)
Questions?