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.

Irvine Community Land Trust Opens New Affordable Housing for Working Families, Veterans, and Special Needs Residents

As Chair of the Irvine Community Land Trust, I am extremely proud of the Land Trust’s most recent affordable housing accomplishment, Parc Derian, which brings 80 new units of housing for working families, veterans, and special-needs residents of Irvine.

Perc Derian officially opened on August 3, 2018.

Here is a news report from Affordable Housing Finance that I am delighted to share with you:

AFFORDABLE HOUSING FINANCE
Development to Help Fill Housing Need in Irvine, Calif.

Parc Derian will serve working families and others with special needs.

By Donna Kimura

August 13, 2018

The recently completed Parc Derian brings 80 units of housing for working families, veterans, and special-needs residents in Irvine, Calif.

The development is a public/private partnership between C&C Development, Innovative Housing Opportunities (IHO), Lennar Corp., the city of Irvine, and the Irvine Community Land Trust.

Located in the heart of the Irvine Business Complex, a major economic and job hub for the city, Parc Derian had 2,000 households on its interest list, from which 80 households were selected by lottery and all moved in within 30 days. Twenty percent of the units are designated for veterans

Developed on a 2.2-acre urban infill site as part of Irvine’s inclusionary zoning plan, the apartment community features almost a half-acre of open space, and residents are served by 5,000 square feet of community space with such amenities as a fitness room, a community room, on-site laundry facilities, and secured bicycle storage. A second-floor exterior podium deck encompasses a tot lot, an outdoor barbeque and fireplace pavilion, a swimming pool, and a community garden.

Designed by KTGY Group, the $33.6 million Parc Derian is a four-story structure featuring contemporary architecture that incorporates urban-inspired elements and finishes and is designed to achieve a LEED Gold certification. It utilizes sustainable building methods such as low-e energy-conserving windows, water saving plumbing fixtures, and LED lighting throughout the property. Advent Cos. is the general contractor.

“Parc Derian underscores our mission to design and build affordable housing that is indistinguishable from market-rate housing and provides a secure and comfortable environment for families and individuals that improves their lives and lifestyle,” said Todd Cottle, a C&C Development principal. “Design and quality of craftsmanship that is represented by Parc Derian play an important role in our properties, especially in inclusionary zoning environments such as the city of Irvine.”

Ranging in size from approximately 635 to 1,203 square feet, the one-, two-, and three-bedroom apartments have private balconies and patios and are designed to accommodate large families and special-needs individuals with household incomes between 30% and 50% of the area median income (AMI). Monthly rents range from $527 for a one-bedroom apartment to $1,218 for a three-bedroom unit, significantly lower than monthly rents for comparable market-rate apartments in the Irvine area.

To provide housing for residents with special needs, C&C Development and IHO have partnered with Families Forward to set aside apartments that are designed for family households that are experiencing homelessness or are at risk of homelessness. Families Forward assists people in crisis to achieve and maintain self-sufficiency through housing, counseling, and education.

The developers have also partnered with the Regional Centers of Orange County and United Cerebral Palsy to set aside apartments for developmentally disabled residents. The organizations help residents with disabilities reach their full potential, improve their quality of life, and foster an attitude of acceptance and inclusion.

Residents will further benefit from social services such as health and education enhancement programming offered by Lighthouse Community Center and IHO.

Parc Derian is an excellent example of public-private partnerships working creatively to provide affordable housing for Irvine’s workforce, according to Mark Asturias, executive director of the Irvine Community Land Trust, which provides land that is leased to developers such as C&C Development to build housing that will remain permanently affordable.

“Every family and individual deserves the ability to afford a home in their community,” Asturias said in a statement. “Parc Derian is a tremendous accomplishment for all the partners involved and for the Irvine community. It demonstrates how a city can partner with a home-grown nonprofit such as the Land Trust and developers to bring permanently affordable housing into the community. By providing homes people can afford, they commute less, spend more time with their family, and give back to the community they live in. Irvine is stronger with affordable housing.”

The $33.6 million Parc Derian was financed with low-income housing tax credits from the California Tax Credit Allocation Committee, a construction loan provided by Bank of America Merrill Lynch, and a permanent loan through the California Community Reinvestment Corp.

The housing tax credits, which were syndicated by National Equity Fund, generated approximately $18.4 million in equity. Additional financing was invested by the City of Irvine and Lennar Corp.

 

 

Councilmember Melissa Fox Receives Award on Behalf of the Irvine Community Land Trust for Opening of New Permanent Affordable Housing in Irvine

Irvine, CA — Irvine City Councilmember Melissa Fox today received an award on behalf of the Irvine Community Land Trust for the opening of new permanent affordable housing in Irvine.

The new housing project is Parc Derian, an 80-unit,100% permanent affordable housing community.  Eight units (10%) are reserved for veterans, four units are reserved for “at risk” families through Families Forward, and four units are reserved for disabled individuals.

Councilmember Fox is the Chair of the Irvine Community Land Trust.  She has made creating more affordable housing a priority.  In addition to her work on the Irvine City Council and the Irvine Community Land Trust, Councilmember Fox has made numerous trips to Sacramento to testify before legislative committees and to work with the state legislators, including State Senators John Moorlach, Jim Beall, Scott Wiener, and Janet Nguyen, and Assemblymember Sharon Quirk-Silva on solutions to the California housing crisis.

In addition to the Irvine Community Land Trust, other partners in the Parc Derian project included the City of Irvine, the U. S. Department of Housing and Urban Development, the California Tax Credit Allocation Committee, the National Equity Fund, the Bank of America, C & C Development, Lennar Corporation, Innovative Housing Opportunities (IHO), Orange County and United Cerebal Palsy, Familes Forward, and Lighthouse Community Centers.

Parc Derian is located within the Irvine Business Complex (IBC).

At the opening ceremony, Councilmember Fox made the following remarks:

“Good afternoon and welcome. I’m delighted that you have come to enjoy the grand opening of our latest affordable housing project.

Many of you may wonder what is the Irvine Community Land Trust and why are we involved in this project.  The Irvine Community Land Trust was established by the City in 2006.  We were the City’s homegrown nonprofit created to hold land in perpetuity for affordable housing.

Three years ago, in partnership with the City and C&C Development, we started development of our second affordable housing project – Parc Derian.  Today you see the finished product.  But what you may not realize is that this property will always be affordable.  This is because the Irvine Community Land Trust, as a nonprofit, holds land for the community in perpetuity. This was and is the vision the City had when it created the Irvine Community Land Trust.

Today, the Irvine Community Land Trust remains committed to implementing the City’s vision of creating permanent affordable housing. It bears repeating that the City’s vision of housing for Irvine is that we have “a full spectrum of housing types to meet the needs of all income groups at all stages of life that will be permanently affordable.”

You have heard how Parc Derian serves families, special needs residents, and veterans.  You will hear from some of these residents shortly.  Remember, because of the Irvine Community Land Trust’s commitment to permanent affordable housing, these residents will never fear that they might be displaced from their homes because of market rate rent increases. These homes provide a high quality of life for today’s and tomorrow’s residents.

And we have made these homes wonderfully affordable to residents with rents as low as $570 per month. Parc Derian gives individuals and families a sense of community; it is not a coincidence that “community” is part of our name.

As we celebrate the successful completion of this project and the partnership we have with the City,  we also look forward to our next housing permanent affordable developments.  A new 80-unit rental project along Sand Canyon is in the design phase and should break ground this time next year.  And looking beyond that project, we are anticipating more land and funding from the City to the Land Trust to create more permanently affordable housing.

As the City’s nonprofit we will develop future properties and assure the community that they will never be lost or converted to market rate housing.

We call this commitment “stewardship” — and you have our solemn promise that we will always strive to meet the vision of creating and managing a full spectrum of housing opportunities for families, as the Irvine Community Land Trust continues to work with the City to create more permanent affordable housing for our residents.”