New Affordable Housing Coming to San Diego
- Jan 07, 2016
San Diego—Affirmed Housing Group is developing Cypress, a 63-unit affordable apartment community in the East Village District of Downtown San Diego in partnership with the San Diego Housing Commission.
Designed by Carrier Johnson, the six-story community is a Permanent Supportive Housing development serving homeless individuals, with $3.4 million in development funding and 62 Federal rental-housing vouchers awarded by SDHC through HOUSING FIRST – SAN DIEGO, SDHC’s three-year Homelessness Action Plan.
“Cypress will bring essential affordable housing to Downtown San Diego,” James Silverwood, Affirmed Housing’ president, said. “Affordable homes are particularly important in urban locations, and we are proud that Cypress will provide 62 new homes to those who are the most vulnerable.”
Located at 1435 Imperial Ave., the efficient homes will range from 275 to 350 square feet, and residents will share access to a large, 4,000-square-foot common area. Community amenities include a community kitchen, tech tables, lounge areas, and outdoor open space.
The development is being built to meet a LEED Gold level of sustainability. The community will have a solar array to offset 60 percent of its common area usage, and will offer rents at 30 percent and 40 percent of the Area Median Income.
The project will utilize 9 percent Federal Tax Credits, $3.84 million from HCD Transit-Oriented Development funding, and $3.45 million in loan funds from SDHC, which include $2.85 million from U.S. Department of Housing and Urban Development HOME Investment Partnerships Program funds granted to the City of San Diego and administered by SDHC and $600,000 from the City of San Diego’s Inclusionary Housing Fund, also administered by SDHC.
When completed, Cypress will offer resident services by St. Vincent de Paul Village Inc.