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El Monte Veterans Village Project City of El Monte, CA 2013.

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Presentation on theme: "El Monte Veterans Village Project City of El Monte, CA 2013."— Presentation transcript:

1 El Monte Veterans Village Project City of El Monte, CA 2013

2 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

3 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

4 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

5 Project Description MERCY HOUSING VETERANS HOUSING PROJECTS # of Units41 one-bedroom studios apts. Unit SizeApprox. 485 - 510 sq. ft. Building Height3 stories/approx. 36 ft. On-Site Support ServicesYes Property Manager Yes / 1 unit Parking41 stalls (16 covered/25 surface)

6 Conceptual Design Street view from Stewart Street

7 Conceptual Design Site Plan

8 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

9 Programmatic Services New Directions Case Management Services Vocational Support Computer/Technology Training Family Reunification Legal Services Transportation Support Job Training

10 Financing Sources VASH Vouchers Tax Credit Equity (TCAC) City of Industry Housing Funds Affordable Housing Program HUD/City HOME Funding

11 Mercy Housing Developments Boulevard Court - Sacramento, CA

12 Mercy Housing Developments Johnston Center Residences - Milwaukee

13 Mercy Housing Developments Westbrook Plaza, San Francisco, CA

14 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

15 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

16 Construction Progress 80% Complete Grand Opening: March 12, 2014 (10:00am)


18 Questions?

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