BIA/OC Urban Infill Jamboree is a Non-Profit Corporation Founded in - PowerPoint PPT Presentation

BIA/OC Urban Infill

Jamboree is a Non-Profit Corporation Founded in 1990 Mission Jamboree delivers high quality affordable housing and services that transform lives and strengthen com munities Vision Every person will live in a strong, healthy, sustainable community Values  Quality  Communication  Integrity  Creativity  More than Shelter

26 years of affordable housing Current Residents Total Communities 17,350+ Developed 88 Veterans Total Units Developed 700 8,300 Average Household Jamboree Size Development Pipeline 2.4 $320 Million Profile Average Household Net Worth Income $134 Million $24,790 Property Portfolio Value Average Apartment Rents $1.1 Billion $500-$1,200/month 1BR-3BR In House General Construction Company

Clark Commons Granite Court Buena Park, CA Irvine, CA 2016 2009 71 one, two and three BR units 70 one, two and three BR units 4 stories over podium and 3 and 4 stories over at grade podium subterranean parking-1.23 acre site parking and retail space-1.94 acre site

Clark Commons Granite Court

Clark Commons Granite Court A 70 unit affordable housing The first residential property in the Irvine Business part of a 12-acre development complex. Jamboree created with City Ventures and purchased the property and the City of Buena Park. The relocated all existing development includes a businesses. The compact- neighborhood park and 150 design housing adjacent to for sale market-rate retail and office space townhomes by City Ventures. provides much-needed workforce housing.

Clark Commons Granite Court SOURCES SOURCES • City of Irvine • City of Buena Park $ 7,700,000 $ 7,700,000 • HCD • Bank of America -Loan $ 6,308,800 $ 2,900,000 • County of Orange • Bank of America -Equity $ 2,515,000 $18,400,000 • Union Bank • Other $ 2,980,000 $ 300,000 • MMA Financial -Equity $11,925,000 $29,300,000 • Operations $ 201,200 • Jamboree $ 908,000 USES • Land $32,538,000 $ 4,900,000 • Construction $16,000,000 • Soft Costs $ 8,400,000 Total Development Cost $29,300,000 USES • Land $ 3,545,000 • Construction $20,525,000 • Soft Costs $ 8,468,000 Total Development Cost $32,538,000

Clark Commons Granite Court COMMUNITY FEATURES COMMUNITY FEATURES • Near mass transit • LEED Gold certified • Photovoltaic system powers common areas • Near mass transit • Clubhouse • Clubhouse • Fitness center • Fitness center • Covered parking • Covered Parking • Elevator • Elevator • Extra storage • Playground/tot lot • Playground/tot lot • Laundry facility • Laundry facility • Onsite resident services • Onsite resident services UNIT FEATURES • Central heating/ac UNIT FEATURES • Central heating/ac • Balcony/patio • Balcony/patio • All ENERGY STAR kitchen appliances • All ENERGY STAR kitchen appliances • Smoke-CO detector • Smoke-CO detector • Fire suppression sprinklers • Fire suppression sprinklers • Cable-ready • Cable-ready • Carpet & Vinyl Flooring • Carpet & Vinyl Flooring • Window coverings • Window coverings • Oversized closets

LESSONS LEARNED GRANITE COURT HOME RUNS STRIKE OUTS Absorbed AH requirements for 3 developers Local parking requirements Flexible interpretation of park space Design review & CCRs Forward design planning for pedestrian environment Casement windows Good partnership w/local community CLARK COMMONS HOME RUNS STRIKE OUTS Removed blight Slow ID of retail client increased costs Good mix of housing & retail Parking Quick development time frame <1 year Wet/dry utility coordination Good partnership w/local community Rushed design=later change orders

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