Affordable Housing in Irvine

Last week I wrote about the effect that lack of the redevelopment money would have on the build out of the Orange County Great. But the question also came up on what effect the lack of redevelopment funds would have on building affordable housing in Irvine. So today’s post is a brief look at affordable housing in Irvine.

As I wrote last week, “[R]edevelopment funds are a relatively new invention in Irvine. The redevelopment district was built to aid with the development of the Orange County Great Park. Redevelopment money generated from this redevelopment district was to be used for the Great Park development”. This means that redevelopment funds have never been an important source for building affordable housing in Irvine. Instead, as the housing element chart for affordable rental units built in Irvine shows, other means were used [See the Funding Source(s) column in the chart found below.]. These include bonds, grants, loans, and tax credits. These various options might be from federal, state, county, or city governments. In addition, developer funding, deferred developer fees, and partnerships with developers are sometimes used. The city partnerships with developers includes partnerships with The Irvine Company as well as non-profit developers such as Jamboree Housing, Bridge Housing, and Irvine Housing Opportunities, Inc. In addition, with the goal of providing ownership of permanent affordable housing as well as affordable rental housing in Irvine, the city started the Irvine Community Land Trust in 2005.

Recently, the city council approved without changes the action plan for the federal Community Development Block Grant (CDGB) and the HOME Investment Partnership Program that the Irvine Community Service Commission recommended. The Irvine Community Service Commission recommended various organizations to receive these funds. However, five organizations that applied were not recommended; limited funds were stated as a reason.

City of Irvine C-46 Housing Element General Plan

Table C-32: Affordable Housing Developments

Project Name Type Total Units Assisted Units/ Income Level Unit Size Funding Source(s) Earliest Date of Conversion
Turtle Rock Canyon Family 217 66 very low and low income units 1, 2, 3 BR 1998 CSCDA Series A Bond 2044
Dartmouth Court Family 294 89 very low and low income units 1 and 2 BR 1998 CSCDA Series A Bond 2044
Villa Sienna Family 1,442 216 very low, low, and moderate income units Studio, 1, 2, 3 BR 1998 CSCDA Series PP Multi-Family Bond 2047
Toscana Apartments Family 562 84 very low and low income units Studio, 1, 2 BR 1990 Series B County Bond 2046
Inn at Woodbridge Senior 116 116 very low and low income units 1 and 2 BR Tax Credits, City of Irvine CDBG 2050
Santa Alicia Family 86 86 very low and low income units 1, 2, 3, 4 BR 1998 CSCDA Series A Bond, Tax Credits 2052
San Paulo Villas Family 382 173 very low, low, and moderate income units 1, 2, 3 BR 1998 CSCDA Series A Bond, City of Irvine CDBG, County of Orange 2023
Montecito Vista Family 162 160 extremely low, very low, and low income units 2 and 3 BR City of Irvine HOME & CDBG, County of Orange HOME & Redevelopment, OC Apartment Development Revenue Bonds, Low Income Housing Tax Credit 2061
Windrow Apartments Family 96 96 extremely low and very low income units 1, 2, 3 BR City of Irvine HOME & Workforce Housing Grant, County of Orange 2060
Laguna Canyon Family 120 120 very low income units 1, 2, 3 BR Tax Exempt Bond, County Tax Credits, CalHFA Bridge Loan, 9% Tax Credit Financing, OC Housing Authority 2061
Columbus Grove Family 527 27 very low and low income units 1, 2, 3 BR City of Irvine CalHOME, CDBG & ADDI 2037
Woodbury Walk Family 150 150 very low income units 1,2,3 BR City CDBG & HOME, 9% LIHTC Tax Credit, OCDA Set Aside, OC Strategic Priority Affordable Housing Funds 2064
Kelvin Court Family 132 27 very low income units Studio, 1, 2, & 3 BR Developer financed 2061
Granite Court Family 71 71 extremely low and very low income units 1,2, & 3 BR Tax exempt bonds, CA Multi-Family Housing Revenue Bond, CA Multi-Family Housing Loan Program, County of Orange HCS, City of Irvine, , deferred developer fee 2106
The Arbor at Woodbury Family 90 90 extremely low, very low and low income units 1,2,&3 BR City CDBG & HOME, County Housing Development, the Irvine Company 2107
Avalon Irvine Family 280 23 very low income units 1 & 2 BR Developer funded 2037
Axis 2300 Family 115 18 low income units 2 BR Developer funded 2040

Source: City of Irvine, 2011

This concludes our brief look at affordable housing in Irvine-perhaps more on this at another time

Discuss below or on Talk Irvine.