Affordable Housing Developer Awarded Project of the Year
- Jun 01, 2015
Agoura Hills, Calif.—One of California’s leading builders of workforce and affordable housing received the Project of the Year Award by the Kennedy Commission of Orange County.
Alegre Apartments, a project by AMCAL Multi-Housing, is located in the City of Irvine and provides 103 affordable homes in partnership with the City of Irvine and the Irvine Community Land Trust. AMCAL is the first developer to create a joint venture with the Land Trust based on a unique ground lease model providing affordability in perpetuity—also the first of this kind in Orange County.
Alegre is a highly rated green building with LEED Gold certification, highlighting a traditional Italianate design by Architect MVE & Partners. The community features many amenities such as a large pool and splash area, barbecue areas, a playground, and a two story, 4,500-square-foot community room with a kitchen, computer lab, media room, game room, and fitness room. Charging stations for electric cars are available onsite as well.
The development is adjacent to Cypress Park, the Jeffrey Open Space Trail, OCTA bus lines, Jeffrey Trail Middle School, a supermarket, pharmacy, and health clinic. To provide an enhanced living experience for residents, AMCAL partnered with LifeSTEPS to provide complimentary social services for children and adults, and Families Forward to provide housing and support services for local families.
In 2013, AMCAL was awarded an allocation of $23.9 million in nine percent Low-Income Housing Tax Credits. The Irvine Community Land Trust and the City of Irvine provided financial support valued at $9 million and Cal HFA offered $1.3 million in MSHA funds for special needs residents. Alegre is 100 percent affordable to low, very low and extremely low income households.
“We are honored to be recognized by the Kennedy Commission for the Project of the Year Award in Orange County. We are also proud to be a part of the unique partnership with the City of Irvine and the Irvine Community Land Trust to provide high quality affordable housing in perpetuity,” said Percival Vaz, CEO of AMCAL.
The Kennedy Commission advocates for and supports those devoted to the development of affordable housing in Orange County for families earning less than $20,000 annually. It works to develop solutions for housing needs, uphold the pride of families with low and extremely low incomes and bring together communities across Orange County to support the development of homes that are affordable to all types of residents.
AMCAL and its associated companies develop, construct and operate affordable market-rate apartment communities in California and Texas. AMCAL developed more than 4,000 units in partnership with more than 25 cities in Northern and Southern California.