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West Park Redevelopment: Affordable Housing for Seniors and Adults with Disabilities

The San Diego Housing Commission recommends the authorization of $9 million in Multifamily Housing Revenue Bonds for the rehabilitation of West Park, a 47-unit affordable housing development. The project aims to provide housing for seniors experiencing homelessness and adults with mental disabilities.

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West Park Redevelopment: Affordable Housing for Seniors and Adults with Disabilities

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  1. San Diego Housing Commission Final Bond Authorization for West Park January 11, 2019 Colin Miller Vice President, Housing Finance Real Estate Division Tina Kessler Housing Programs Manager Real Estate Division

  2. SDHC – West Park Partnership Development Recommendations That the San Diego Housing Commission (Housing Commission) recommend that the Housing Authority of the City of San Diego (Housing Authority) take the following actions: Authorize the issuance of up to $9,000,000 in tax-exempt Multifamily Housing Revenue Bonds to facilitate HDP West Park L.P.’s rehabilitation of West Park, a 47-unit development located at 1830 Fourth Avenue in the Bankers Hill/Park West neighborhood of the Uptown community planning area, which will remain affordable for 55 years. San Diego Housing Commission Slide #2

  3. SDHC – West Park Partnership Development HOUSING FIRST – SAN DIEGO • The development is supported by HOUSING FIRST – SAN DIEGO: 2018-2020, SDHC’s Homelessness Action Plan • West Park will include 46 affordable units for seniors experiencing homelessness, adults with mental disabilities, and one manager’s unit. • 4 studio units • 42 single-room occupancy (SRO) units • 1 SRO manager’s unit San Diego Housing Commission Slide #3

  4. SDHC – West Park Partnership Development Location Map San Diego Housing Commission Slide #4

  5. SDHC – West Park Partnership Development Existing Conditions Photos San Diego Housing Commission Slide #5

  6. SDHC – West Park Partnership Development Existing Conditions Photos (Continued) San Diego Housing Commission Slide #6

  7. SDHC – West Park Partnership Development Proposed Rehabilitation • Improvements to unit interiors: • Replace flooring • Replace fixtures • Replace lighting • Upgrade HVAC • Add kitchenette • Repair window and door hardware • Exterior building and site improvements • Improvements to existing office areas to accommodate for Service Providers on-site space San Diego Housing Commission Slide #7

  8. SDHC – West Park Partnership Development Development Team Summary San Diego Housing Commission Slide #8

  9. SDHC – West Park Partnership Development Supportive Services & Resident Service Partnerships • Services: • Medical support, daily living support, nutrition support, and transportation support • Other services, as needed, will be assessed on a case-by-case basis for tenants. San Diego Housing Commission Slide #9

  10. SDHC – West Park Partnership Development Estimated Sources & Uses of Financing • Estimated Total Development Cost Per Unit (for 47 Units) = $331,772 San Diego Housing Commission Slide #10

  11. SDHC – West Park Partnership Development Affordability & Estimated Rents • Owner paid utilities • 20-Year Housing Assistance Payment contract tenant rent portion will be calculated at 28.5 percent of adjusted monthly income San Diego Housing Commission Slide #11

  12. SDHC – West Park Partnership Development Development Timeline San Diego Housing Commission Slide #12

  13. SDHC – West Park Partnership Development San Diego Housing Commission Slide #13

  14. SDHC – West Park Partnership Development Questions? San Diego Housing Commission Slide #14

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