POMONA, CA – Integrity Housing announced that it recently opened Olivera Senior Apartments, an affordable community in Pomona, CA.  Located at 600 S. Dudley Street, Olivera is now fully occupied and offering new apartment homes to 84 low-income seniors at 30 – 60 percent of the area median income, with five units reserved for veterans with Veterans Affairs Supportive Housing (VASH) Vouchers.  Olivera, one of Integrity Housing’s signature developments, is the result of bringing together multiple organizations, government agencies, and financial partners to make a high quality affordable community. 

Olivera was financed using 9% Low Income Housing Tax Credits and funding from the Federal Home Loan Bank Affordable Housing Program.  US Bank provided the construction loan, California Community Reinvestment Corporation provided the permanent loan, and City Real Estate Advisors is the tax credit equity partner.  Additionally, the community is one of Integrity Housing’s distinctive “triple bottom line” developments, whereby investors provide an asset to the community with triple benefits: profitability for investors; social impact services for the residents; and a valuable, sustainably developed property for the region.  Integrity Housing developed the property in partnership with Mayans Housing Corporation.

Anjela Ponce, Executive Vice President and Founder of Integrity Housing, states, “We are very pleased that Olivera has been so warmly received by the community and so highly praised by its residents. We aim to enhance the lives of our residents, and the feedback we have received confirms that we achieved that goal at Olivera.”

Incorporating energy efficient construction and appliances, Olivera received the highest Gold Rating under the Green Point Rated Sustainable Program.  Homes offer granite countertops, carpet and vinyl wood plank flooring, central heating and air conditioning, and private balconies and patios in select units. The Spanish Mediterranean-style community offers on-site parking, laundry facilities on each floor, a large club room, a fitness room, a computer room, a mail room and a reception area.  A system of landscaped sidewalks connect the outdoor recreation and open spaces, including a community garden, a bocce ball court, a dog park, a dining terrace and community barbeques. The project was designed by KTGY Architecture + Plotting with MJS Landscape Architecture.

FPI Property Management provides on-site management, and collaborates with EngAGE, a nonprofit organization that provides arts, wellness, lifelong learning, and intergenerational programs.  EngAGE’s mission is to change lives by transforming affordable housing into centers of unity, learning, and well-being.  Classes may include languages, computers, gardening, cooking, music appreciation, acting, photography, drawing, poetry, chorus, yoga, strength training, financial literacy, etc.  Classes currently underway at Olivera include Yoga/Meditation, Essentials of Aging, Tech Help, and Fraud Identification, among others. 

Rod H. White, a resident at Olivera Senior Apartments, says, “One thing I like about this community is that they cater to seniors.  My relatives are envious.  We have dances, parties, game nights—it’s the most pleased I’ve been in a long time.  I see the way the staff members, like Julio, sweep up the grounds.  I’ve never seen him sit down.  The staff truly cares and looks out for you.”

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ORLANDO, FL – Just like the weather, Florida’s housing market was hot in July with more closed sales, higher median prices, increased pending sales and more new listings, according to the latest housing data released by Florida Realtors. Sales of single-family homes statewide totaled 24,546 last month, up 2 percent compared to July 2016.

“Florida’s housing market gained momentum in July,” said 2017 Florida Realtors President Maria Wells, broker-owner with Lifestyle Realty Group in Stuart. “More owners chose to place their homes up for sale. But, even with the increase in new listings, inventory remains tight and buyer demand is fantastic. New listings for single-family existing homes rose 6.1 percent year-over-year, while new listings for existing condo-townhouse properties rose 5.5 percent. Homes continue to sell quickly, resulting in increased pending sales – up 3.3 percent for single-family homes and up 3.6 percent for condo-townhouse units.

“In such a quick-paced, tight-inventory market, consumers’ best resource is a local Realtor, who is there to help successfully guide them through the complexities of buying or selling a home.”

The statewide median sales price for single-family existing homes last month was $240,000, up 7.1 percent from the previous year, according to data from Florida Realtors Research department in partnership with local Realtor boards/associations. The statewide median price for townhouse-condo properties in July was $170,950, up 6.8 percent over the year-ago figure. July marked the 68th month-in-a-row that statewide median prices for both sectors rose year-over-year. The median is the midpoint; half the homes sold for more, half for less.

According to the National Association of Realtors® (NAR), the national median sales price for existing single-family homes in June 2017 was $266,200, up 6.6 percent from the previous year; the national median existing condo price was $245,900. In California, the statewide median sales price for single-family existing homes in June was $555,150; in Massachusetts, it was $410,000; in Maryland, it was $301,345; and in New York, it was $264,000.

Looking at Florida’s townhouse-condo market, statewide closed sales totaled 9,246 last month, up 3.6 percent compared to July 2016. Closed sales data reflected fewer small sales and foreclosures last month: Small sales for townhouse-condo properties declined 39.7 percent and foreclosures fell 47.7 percent year-to-year; small sales for single-family homes dropped 40.2 percent and foreclosures fell 44.2 percent year-to-year. Closed sales may occur from 30- to 90-plus days after sales contracts are written.

“We continue to see fierce competition among buyers for homes traditionally found on the more affordable end of the pricing spectrum,” said Florida Realtors® Chief Economist Dr. Brad O’Connor. “Florida’s rate of employment growth continues to outpace the nation’s, and a substantial number of Florida’s millennials have started looking for their first home. At the same time, but, rents are still quite high, so homes in these price ranges remain attractive to investors, as well.”

Inventory remained tight in July with a 3.9-months’ supply for single-family homes and a 5.6-months’ supply for townhouse-condo properties, according to Florida Realtors.

According to Freddie Mac, the interest rate for a 30-year fixed-rate mortgage averaged 3.97 percent in July 2017; it averaged 3.44 percent during the same month a year earlier.

To see the full statewide housing activity reports, go to Florida Realtors Media Center.

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