FULLERTON, CA – Less than a year after breaking ground, Jamboree Housing Corporation and the City of Fullerton today announced the grand opening of Compass Rose. This unique, long-term partnership between Jamboree and the City of Fullerton helped do the City’s redevelopment plot, to bring more affordable housing and supportive services to the blighted and overcrowded Richman Park area. 

Over the last 10 years, the City of Fullerton and the former Fullerton Redevelopment Agency invested more than $22.7 million to buy properties in the centrally-located Richman Park neighborhood, an area that had suffered from high poverty and crime rates. More than 30 properties were bought, with some being developed as affordable for-sale homes. Compass Rose is the affordable rental component of the city’s master plot and, upon the request of then Fullerton Mayor, now Fourth District Orange County Supervisor, Doug Chaffee, the majority of the apartments are set aside for residents who earn less than 40% of the area median income.

“I believe that safe and secure affordable housing is a basic human need and essential to providing for a decent quality of life. In my capacity as Supervisor, I will continue to advocate for affordable housing for the residents of Orange County. As we continue to work towards this goal, I’m proud to stand by Jamboree and look forward to building more projects like Compass Rose,” said Chaffee.

The 1.76-acre site, comprised of five scattered sites, has now evolved into a 46-unit affordable apartment complex, with an expansive community service center as the focal point of the development. The Compass Rose community center features approximately 2,800 square feet of community space that houses flexible indoor/outdoor recreational space, onsite management offices, kitchen facilities, and space where free, onsite services will be provided to residents and the surrounding Richman Park community. Outdoor amenities include barbecue/dining areas, a tot lot, fitness areas, and landscaped community spaces for outdoor recreation. Each residential building features laundry facilities, most apartments have a garage, and on-grade parking is available for guests. 

Jesus Silva, current Mayor of Fullerton, said that quality affordable housing, like Compass Rose, can truly revitalize a community. “Thank you, Jamboree, city staff and all our fantastic partners for help in transforming our city one neighborhood at a time. Your commitment to the families of Compass Rose will ignite the spark of possibilities that will allow them to go forward with like and dignity.”

Laura Archuleta, Jamboree President and CEO, said that developers of affordable housing today have had to evolve the nature of their work since the dissolution of redevelopment agencies.

“Having the opportunity to work with the City of Fullerton in executing the last phase of their redevelopment vision for the Richman Park neighborhood has been a unique and rewarding experience,” she said. “Seeing the commitment of the City to end what they started more than 10 years ago shows that affordable housing is still possible in a post-redevelopment world when the political will of a city is present.”

Archuleta pointed out that Compass Rose makes not only quality affordable housing for families but is a platform to expand community services that benefit the surrounding neighborhood and residents. This is accomplished through Jamboree’s partnership with the California State University Fullerton Center for Healthy Neighborhoods, St. Jude Neighborhood Health Center, and Richman Connect who are working together with Jamboree to expand services, programs, and activities to promote safe and healthy families, improve social, emotional, and academic success of children, enhance economic stability, and empower residents to have a voice of leadership in their community.

“Affordable housing, coupled with neighborhood-specific community and resident services, is what truly transforms an area like Richman Park,” said Archuleta. 

In Jamboree’s ongoing commitment to sustainability, Compass Rose features ENERGY STAR appliances and water-efficient plumbing in each apartment, low-VOC interior paint and paperless drywall in bathrooms, CRI Green Mark low-VOC carpeting and underlayment, and low-VOC adhesives. Interiors are heated by a highly efficient central boiler system, and the outdoor landscaping features large planters around the community to capture rainwater runoff.

With these and other sustainable features, Compass Rose is designed to achieve a LEED (Leadership in Energy & Environmental Design) for Homes Gold rating and to exceed California’s Title 24 CalGreen energy efficiency standards. This certification lowers energy consumption, providing a cost-saving benefit to and promotes the health of residents. The LEED Green Building Rating System is the nationally accepted benchmark for the design, construction, and operation of high-performance green buildings.

Financing for the $23.3 million development consists of $9.7 million in a city loan from the City of Fullerton; $10.7 million in tax credit equity invested by Union Bank; $2.2 million in permanent financing by Union Bank, and $12.3 million in construction financing provided by Union Bank.

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CHARLOTTE, NC – The NRP Group, a vertically-integrated, best-in-class developer, builder, and manager of multifamily housing, announced it has broken ground on Platform Lofts, one of the first affordable multifamily housing communities located on Charlotte’s new light-rail extension on the Blue Line.

The community will be The NRP Group’s third in the Charlotte area, after Loft 135, an upscale, market-rate apartment community on the south end of Charlotte, completed in 2016 and The Parkwood, which started construction in 2017 and is set to end this fall. 

“The City of Charlotte is committed to partnering with developers like NRP to provide affordable housing for our citizens,” said Pamela J. Wideman, Director of housing and neighborhoods for the City of Charlotte. “The ability to have quality affordable housing in close proximity to the Blue Line extension and other transit options is a prime example of how lower income families can have access to affordable housing in areas that provide upward economic mobility opportunities. NRP’s Platform Lofts development provides such an opportunity. The City of Charlotte is proud to be partnering with NRP in this exciting new development.”

The 198-unit property will include a separate clubhouse and six residential buildings, consisting of a mix of two-, three- and four-bedroom apartment homes. Resident amenities will include, a multipurpose community room, gym, computer room, laundry room, medical exam room, screened porch, children’s indoor play area, and two covered picnic areas with grills, and playground.

Public access streets will run through the site, which will also have direct pedestrian access to the Cross Charlotte Trail. Platform Lofts is located across the street from Ancient Concord Station, part of the LYNX Blue Line Light Rail extension, and less than a mile from the Eastway Rec Center, a $40 million community center scheduled for delivery in 2020.

All of the apartment homes at Platform Lofts will be reserved for people making 60% or less than the median income in Meck County, about $44,460 a year for a family of four. 

“We’ve been acutely aware that the city of Charlotte has a fantastic need for affordable housing at a mix of income levels, so we are thrilled at the prospect of participating in the opportunity to supply this type of housing,” said Aaron Pechota, Senior Vice President at The NRP Group. “The effort to bring affordable housing to this site, at this long-awaited transit line, was years in the making and should bear fruit soon.”

Bank of America Merrill Lynch provided more than $25 million in loans and a direct LIHTC equity investment of $13.2 million. It was the 29th transaction the bank completed with NRP Group over the past 10+ years.

“This development is an example of the work we’re leading to support Charlotte’s housing needs,” said Charles Bowman, Bank of America market president for Charlotte, North Carolina. “Our commitment to support affordable housing is part of how we drive economic mobility and help make safe and stable communities for residents of Charlotte.”

The City of Charlotte’s Housing Trust Fund is providing $5.1M in gap financing. The NRP Group also partnered with Community Housing Resource (CHR), a nonprofit dedicated to developing quality, affordable housing where built-in social services empower low-income residents to grow and prosper.  

Completion of Platform Lofts is scheduled for 2020.

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SACRAMENTO, CA – Meridian Senior Living announced the addition of three senior living communities totaling 307 beds in the Northern California area to its portfolio on May 1, 2019. This Northern California Senior Housing Portfolio was bought by Griffin-American Healthcare REIT IV co-sponsored by American Healthcare Investors and Griffin Capital Company, LLC, on June 28, 2017. In partnership with American Healthcare Investors, LLC, Meridian is managing and operating the portfolio on a day-to-day basis. The three facilities from the portfolio include: Meadow Gardens of Menlo Park, Legacy Oaks of Sacramento, and Parkrose Gardens of Fairfield.

“We are delighted to expand our operations into Northern California,” says Kacy Kang, President and Chief Operations Officer. “Equally exciting is our continued collaboration and advancement with American Healthcare Investors, one of the largest private healthcare real estate investment management firms in the world.” 

“We are keen and excited to enrich the lives of our new community team members and residents by virtue of our WOW! culture,” says Glen Cummins, Regional Director of Operations. At our core we believe: ‘Everyone deserves a fantastic life.’”

Nestled in a quaint residential neighborhood steps away from Downtown Menlo Park, Meadow Gardens of Menlo Park, is a one-tale, 45-bed community offering memory care services. Located at 800 Roble Road, Menlo Park, CA 94025, Meadow Gardens of Menlo Park has a boutique spa atmosphere generated by an ivy draped entryway and attentive staff members. The building is appointed with a large community room along with two secured generous outdoor patios where residents can delight in special interest and wellness programs plotted to keep seniors active and involved, both physically and socially. 

In a home-like setting boasting two gorgeous interior courtyards, Legacy Oaks of Sacramento is a 160-bed facility offering both helped living and memory care units located at 1922 Morse Avenue, Sacramento, CA 95825. It is a single-tale community consisting of shared studios, large studios, and one-bedroom apartments appointed with private bathrooms, showers, and kitchenettes. Legacy Oaks of Sacramento emphasizes activities and social programs including crafts, music entertainment, exercise classes, educational and inter-generational programs, holiday celebrations, social hours and non-denominational services. Amenities include spacious suites, personal call system, library and game rooms, media room, beauty salon, enclosed courtyards, and private dining room for family birthdays/celebrations.

The largest memory care facility in Solano County, Parkrose Gardens of Fairfield is a 102-bed, two tale community located at 1095 E. Tabor Avenue, Fairfield, CA 94533. Parkrose Gardens of Fairfield has a gorgeous country club-like setting with three lush gardens and large outdoor spaces for residents to delight in. The community offers both private and semi-private units in a 24-hour care environment. Amenities include: dining rooms, beauty salon, outdoor spaces, indoor common areas, 24-hour awake staff, and activity and social programs.

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