DLP Real Estate Capital Adds to Portfolio With The Acquisition of 234-Unit Lafayette Place Apartment Community in Oxford, Mississippi

OXFORD, MS – DLP Real Estate Capital, a private financial services and real estate investment firm, announced its acquisition of Lafayette Place, (now renamed DREAM Oxford), a 234-unit multifamily property, located in Oxford, MS. The addition of the community to DLP’s portfolio of 14,000 apartment units continues the company’s mission to do excellent through impact investing.
Don Wenner, Founder and CEO of DLP Real Estate Capital commented, “We are extremely pleased to add Lafayette Place to our portfolio of multifamily communities. Situated close to Ole Miss University and the busy Oxford downtown area, the property will offer hardworking individuals and families convenient and affordable housing options. We look forward to bringing our DLP culture of Wow to current and future residents of our communities.”
Anthony Ruben, DLP’s Sr. Managing Director of Investments commented, “By adding Lafayette Place to our growing portfolio of communities, DLP shows its continued dedication to impact investing, providing affordable housing to local families while delivering superior returns to our investors.”
Lafayette Place was built in 2009 and is conveniently located less than one mile to the University of Mississippi campus and minutes away from downtown Oxford, a vibrant university town that includes restaurants, retail stores, museums, outlets, and more. Lafayette Place sits on 9.30 acres and includes both one- and two-bedroom units with an average 723 sq. footage. Amenities include a resort-style saltwater pool, beach volleyball court, 24-hour fitness center with a modern clubhouse, and an outdoor grilling area.

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Jamboree Housing Begins Construction on Permanent Supportive Housing Community in Partnership With City of Buena Park

BUENA PARK, CA – Jamboree Housing Corporation announced that construction has begun on Ascent, a 57-unit supportive housing community in Buena Park, located in northern Orange County near the Los Angeles County border. Ascent is Jamboree s first Permanent Supportive Housing community in the City of Buena Park and builds upon the commitment both partners have to address chronic homelessness through the creation of more supportive housing communities. Ascent is Jamboree and the City of Buena Park s third collaboration to make more affordable housing – Park Landing in 2013 and Clark Commons in 2016 – which provided 140 new apartment homes for working families.
Supportive housing is a nationally recognized best practice in permanently ending homelessness and regional data shows that its particularly effective in communities like those in Orange County. A groundbreaking 2017 study by UC Irvine, Orange County United Way, and Jamboree – Homelessness in Orange County: The Costs to Our Community – found that it is 50% less to place a chronically homeless person in permanent supportive housing with services ($51,587) as compared to that same person living on the streets and in emergency shelters ($100,759). Since the release of this study, the County of Orange has adopted a plot and committed to fund the construction of 2,700 supportive housing units over the next three to five years.
The Orange County Board of Supervisors is working to address chronic homeless in every community in Orange County, said 4th District Supervisor Doug Chaffee, whose district includes the City of Buena Park. From providing funding to the newly made Orange County Housing Finance Trust, to investments in our shelter system, we re working to make a full spectrum of housing opportunities to end homelessness in Orange County. Ascent is the perfect example of what s possible when you have a committed City partner, targeted County dollars, and a creative development team like Jamboree who can transform ancient structures into new, community assets like supportive housing. Ascent will play a critical role in Buena Park and Northern Orange County s overall homelessness response, offering permanent housing exits from the City s new homeless Navigation Center.
A motel conversion, the development of Ascent required Jamboree to work with the City of Buena Park to design an entitlement process that would allow the City to creatively rezone motel buildings – which currently attract a high-frequency, transient clientele¬ – into attractive, permanent residential apartments that address affordable and supportive housing needs within the Buena Park community. To accomplish this, Jamboree worked with the Buena Park City Council and the wider community prior to applying for entitlements, which allowed time to build local support for the overall development concept. Robust public outreach took the form of community meetings, city council study sessions, and numerous stakeholder briefings and resulted in the City Council s unanimous endorsement of the Ascent development concept. This initial support allowed Jamboree to quick-track the rest of the entitlement process through a Development Agreement and Text Amendment which received unanimous support when presented to the Buena Park Plotting Commission and City Council in February of 2020.
California is in the midst of a homelessness and housing crisis that can only end if cities get creative when it comes to boosting housing production, said Connor Traut, Mayor of Buena Park. Ascent required the City to be flexible when it came to a unique entitlement process but, in return, the City will receive a permanent community benefit in the form of supportive housing.
An adaptive reuse property, Ascent will be comprised of an interior and exterior update of the two existing two-tale buildings. Additionally, a newly constructed one-tale building will feature a 2,744-square-foot community center that includes individual counseling rooms, group meeting space, a community kitchen, resident lounge, and an indoor/outdoor flex space for resident activities and meetings. An outdoor courtyard with barbecues, tables, a community garden, and inviting landscaping will provide additional gathering space for future residents. Interior studio refurbishments include new windows and flooring, updated cabinetry, and fully furnished kitchenettes.
Ascent s location was chosen, in part, because of its proximity to existing community services – a medical clinic, public park, and public transportation are located within a mile of the future supportive housing community. Jamboree will oversee the delivery of supportive services for all residents living at Ascent, and the Orange County Healthcare Agency s Adult and Older Adult Behavioral Health Division (AOABH) will be the service provider for the 28 homes set aside for residents living with a mental health diagnosis. Supportive services will be tailored to the specific needs of future Ascent residents and will include services such as medication management, mental health counseling, and general life skills training. Jamboree s robust supportive services model is what makes our supportive housing communities so successful, said Laura Archuleta, Jamboree s President and CEO. Jamboree s ongoing success with this national housing first model encourages local governments like the City of Buena Park to reckon about how supportive housing and services can improve their own communities.
In response to local neighborhood concerns voiced about safety and security, Jamboree will incorporate surveillance and fob-restricted entry into the design of the community. The newly updated apartments will be fully furnished and, upon go-in, will include a home starter kit of household essentials for residents, including linens, kitchen supplies, cleaning products, and other necessities.
Ascent will serve households who earn no more than 50% of the Area Median Income (AMI). Twenty-eight of the units will be set aside to specifically support people living with a mental illness through the Orange County Housing and Community Development department. Financing for the $18.7-million development consists of a $8.2 in Section 8 Vouchers from the County of Orange; $4.4 million in Special Needs Housing Program funds from California Housing Finance Agency (CalHFA); a $1.4 million loan from the Orange County Housing Finance Trust; $6.7 million in tax credit equity provided by National Equity Fund; $10.4 million in construction financing, and $6.7 million in permanent financing from CIT Bank.

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Validus Senior Living Sets New Standard for Senior Living With Opening of 127-Unit Alura by Inspired Living in Rockledge, Florida

ROCKLEDGE, FL – The doors are opening at Alura by Inspired Living, a Validus Senior Living community offering a full range of care – including independent living, helped living and memory care. The community is located at 777 Roy Wall Boulevard, Rockledge, FL 32955. For the Tampa-based Senior Living operator, this community brings much to celebrate.
“We are thrilled to welcome our moms and dads to this latest and gorgeous senior living community,” notes Steve Benjamin, CEO of Validus Senior Living, adding “the amenities and services provided are second to none, and the interior design is simply stunning.”
Situated on 11.3 acres, the 113,935 square foot building will boast a total of 127 apartments dedicated to senior living. The community features spacious 1- and 2-bedroom apartments, paired with resort-style amenities including upscale dining, a luxurious spa with salon and massage services, health and wellness programs, sports bar, library, and a multi-purpose theatre. The community also includes spacious balconies overlooking a courtyard complete with Bocce ball court, Koi pond, flower beds and sitting areas. The community is small pet friendly, with outdoor walking paths. An array of services includes housekeeping and in-home care options.
Safety and security are paramount at Alura by Inspired Living. The community is equipped with entry-area cameras, as well as 24/7 health monitoring systems for emergency help. Referring to the amenities Benjamin commented, “To ensure the safety and well-being of our residents and peace of mind for their families, we have incorporated state-of-the-art technology with sensible options for outdoor engagement in addition to wonderful programming and resort-like services to deliver a uniquely care-free lifestyle.”
Alura by Inspired Living is part of an ongoing relationship with Premium Edge LLC. “Partnering with Premium Edge LLC to introduce our senior living lifestyle to the Rockledge community is an exciting opportunity,” says Benjamin. Adriana Dall’Armellina of Premium Edge LLC shares the sentiment stating, “Inspired Living has a proven track record as an operator of these luxury communities. We are looking forward to a fantastic long-term relationship providing gorgeous new senior living communities in the various Florida markets.”

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