Creating Affordable Housing in Irvine: Read the Irvine Community Land Trust 2019 Annual Report!

I am honored to serve as Chair of the Irvine Community Land Trust (ICLT), guiding its mission of providing secure, high-quality affordable housing for the benefit of income-eligible families.  Located in Irvine, California, the heart of Southern California’s most expensive real estate market, there is a tremendous need for affordable housing. Because this is our home, too, ICLT is committed to ensuring that Irvine is a place everyone can call “home.”

Recently, ICLT has released its 2019 Annual Report, which I want to share with you.

The Annual Report includes information about the latest achievements in our mission to provide permanent affordable housing to income-eligible Orange County residents.

Read the full report HERE.

We are proud of our progress in this critical area for our community and recognize that there is much more work to be done in 2020 and beyond.

We at the Irvine Community Land Trust are extremely proud to put a successful 2019 to bed. It was a landmark year for our nonprofit organization, marked by critical milestones, a host of awards and a major legislative accomplishment that will benefit the affordable housing landscape across California for decades to come.

Progress on Salerno as of Feb. 2020. Groundbreaking on Sept. 19, 2019. Completion expected Fall 2020.

Most importantly, though, 2019 saw the birth of new, high-quality affordable rental housing for the benefit of income-eligible families.

Due to our robust economy and desirable standard of living, Irvine remains one of the most expensive real estate markets in the nation.

Unfortunately, affordable housing is extremely limited and our working-class citizens, who are the backbone of the city, are among some of Irvine’s most vulnerable residents. With them in mind and in our hearts, we were thrilled to break ground on Salerno, the ICLT’s newest community which will bring 80 affordable homes to the city, including 15 for veterans, 10 for individuals with disabilities and 10 for families at risk of homelessness.

The homes at Salerno are growing by leaps and bounds, and have now climbed up to include a third floor. Keep checking back for more progress pictures from the site, and look forward to the community opening its doors later this year.When completed in the fall, Salerno will join Parc Derian, Alegre Apartments and Doria Apartment Homes as places where income eligible residents will proudly call Irvine “home.”

As the Orange County Register observed, these affordable communities offer “a new beginning for veterans, developmentally disabled people and families at risk of homelessness.”

Looking ahead, 2020 is shaping up to be equally exciting as we begin work on our first home ownership community, Native Spring. That will prove to be a real game-changer for us, the city and, of course, the new homeowners! For the first time, the Irvine Community Land Trust will build for-sale homes that hard-working Irvine residents making less than $100,000 can actually afford to buy.

The Native Spring homeownership project will serve moderate-income families with a 68-house development in Portola Springs that will have all the features of any market rate for-sale project in the city. A young couple earning $76,000 to $94,000 annually will be able to purchase a home for about $370,000.

Additionally, these homebuyers will “pay it forward” by agreeing to resale provisions that keep these homes permanently affordable. This development, which will break ground in 2020, is tremendously exciting for the ICLT as it stands to make the American dream a reality for many first time home buyers.

The ICLT continues to look for corporate donors who can provide grant opportunities, donate materials and items to help build, furnish and landscape new communities. Contact us to learn how to contribute!

You can learn more about the Irvine Community Land Trust at our website HERE.

In May 2019, the Irvine Community Land Trust was awarded the Platinum Seal of Transparency from GuideStar, the world’s most respected source of information on nonprofit organizations.  You can read about it HERE.

 

 

 

 

 

The Challenges of Affordable Housing – and How the Irvine Community Land Trust is Making Progress by Opening the Door to a Wave of New Home Owners

As many of you know I am honored to serve as Chair of the Irvine Community Land Trust (ICLT), guiding its mission of providing secure, high-quality affordable housing for the benefit of income-eligible families.

Late last year, we celebrated the groundbreaking for Salerno, our newest affordable housing community in Irvine. On schedule to be completed in the Fall of 2020, Salerno will offer affordable rents as low as $550 for a one-bedroom, $625 for a two-bedroom and $695 for a three-bedroom.

Thirty-five of the homes will be reserved for those earning less than 30 percent of the area median income: 15 for veterans; 10 for individuals with developmental disabilities; and 10 for families at risk of homelessness.  As the Orange County Register observed, these affordable communities offer “a new beginning for veterans, developmentally disabled people and families at risk of homelessness.”

Recently, ICLT has released a video made during the groundbreaking for Salerno, which I want to share with you:

 

In the video, I talk about the crucial role that ICLT and I played in the passage of new legislation, SB 196, which ICLT and I worked on with Senators Jim Beall, Mike McGuire, and Bob Wieckowski to pass in Sacramento, and which has now been signed into law by the Governor, allows properties slated for affordable rental homes to get a tax exemption sooner, saving nonprofit builders between millions of dollars that can instead go toward building more affordable homes.

The new law also extends this property tax break to land for owner-occupied affordable home projects.  As I told the Orange County Register, “It’s really hard to build these [affordable housing] projects. You have to have a lot of funding, and property taxes can take a significant bite out of that. Even if it didn’t prevent us from doing the [Salerno] project, it lowered the number of units we could do.”  Now that’s been changed.  Under the new law, property tax rates will be lower at the outset for below-market rate, affordable housing, making it much easier and more practical to build more permanently affordable housing for more people in need.

Since I joined the ICLT, we’ve built two below-market rate apartment communities, Parc Derian and Doria, for families making no more than 80 percent of the area’s median household income; some residents earn less than 30 percent of the median income, which in Orange County is $97,900 for a family of four.

The affordable housing we’ve created with ICLT profoundly and positively impacts the health and education outcomes for hundreds of people. That’s why I volunteer to serve as Chair of the Irvine Community Land Trust. The affordable housing crisis isn’t just about buildings. We’re building communities for all the people who desperately need a place to live, including children who need a positive environment to thrive.

You can learn more about the Irvine Community Land Trust at our website HERE.

In May 2019, the Irvine Community Land Trust was awarded the Platinum Seal of Transparency from GuideStar, the world’s most respected source of information on nonprofit organizations.  You can read about it HERE.

Read the Irvine Community Land Trust Q4 2019 Newsletter: New Affordable Housing, Tax Reform, Affordable Housing Conference, and More!

I am honored to serve as Chair of the Irvine Community Land Trust (ICLT), guiding its mission of providing secure, high-quality affordable housing for the benefit of income-eligible families.  

Since I joined the ICLT, we’ve built two below-market rate apartment communities, Parc Derian and Doria, for families making no more than 80 percent of the area’s median household income; some residents earn less than 30 percent of the median income, which in Orange County is $97,900 for a family of four.

ICLT Chair Melissa Fox speaking at the groundbreaking of Salerno, our newest affordable housing community in Irvine.

Recently, we celebrated the groundbreaking for Salerno, our newest affordable housing community in Irvine. On schedule to be completed in the Fall of 2020, Salerno will offer affordable rents as low as $550 for a one-bedroom, $625 for a two-bedroom and $695 for a three-bedroom.

Thirty-five of the homes will be reserved for those earning less than 30 percent of the area median income: 15 for veterans; 10 for individuals with developmental disabilities; and 10 for families at risk of homelessness.

As the Orange County Register observed, these affordable communities offer “a new beginning for veterans, developmentally disabled people and families at risk of homelessness.”

New Communities, the first modern land trust, started 50 years ago in Georgia by the descendants of slaves.

As Chair of the Irvine Community Land Trust (ICLT), I have been actively working with members of the California State Legislature to enact tax reforms to make it it much easier to create affordable housing throughout California.

The new legislation, SB 196, which ICLT and I worked on with Senators Jim Beall, Mike McGuire, and Bob Wieckowski to pass in Sacramento, and which has now been signed into law by the Governor, allows properties slated for affordable rental homes to get a tax exemption sooner, saving nonprofit builders between millions of dollars that can instead go toward building more affordable homes.

The new law also extends this property tax break to land for owner-occupied affordable home projects.  As I told the Orange County Register, “It’s really hard to build these [affordable housing] projects. You have to have a lot of funding, and property taxes can take a significant bite out of that. Even if it didn’t prevent us from doing the [Salerno] project, it lowered the number of units we could do.”  Now that’s been changed.  Under the new law, property tax rates will be lower at the outset for below-market rate, affordable housing, making it much more practical to build more housing for more people in need.

Mark Asturias, Melissa Fox, and Leon M. Nappier at New Communities.

Last month, I traveled to Georgia with ICLT Executive Director Mark Asturias and fellow board member Leon M. Napper for the Reclaiming Vacant Properties and Grounded Solutions Conference. While we were there, we visited New Communities, the first of the modern land trusts, founded in Leesburg, Georgia, in 1969, a former plantation is now owned by the descendants of slaves and dedicated to conservation and racial reconciliation. This land trust went on to inspire the hundreds of community land trusts that exist today, ourselves included.

All of these recent events are covered in our Q4 2019 Irvine Community Land Trust Newsletter HERE.

The affordable housing we’ve created with ICLT profoundly and positively impacts the health and education outcomes for hundreds of people. That’s why I volunteer to serve as Chair of the Irvine Community Land Trust. The affordable housing crisis isn’t just about buildings. We’re building communities for all the people who desperately need a place to live, including children who need a positive environment to thrive.

You can learn more about the Irvine Community Land Trust at our website HERE.

In May 2019, the Irvine Community Land Trust was awarded the Platinum Seal of Transparency from GuideStar, the world’s most respected source of information on nonprofit organizations.  You can read about it HERE.