SOLARA : Affordable Housing as Green Sustainable Development - PowerPoint PPT Presentation

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SOLARA : Affordable Housing as Green Sustainable Development

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  1. SOLARA: Affordable Housing asGreen Sustainable Development Anne Wilson Vice President Real Estate Development Community HousingWorks North Caroline Affordable Housing Conference October 16, 2007

  2. SOLARAThe first apartment complex in CA fully powered by the sun

  3. Community HousingWorks A San Diego non-profit that helps people and neighborhoods move up in the world by providing a full range of housing options combined with training and support. 25 years history in San Diego Home Ownership Center; 17 as Multi-Family Developer 1550 apartment homes; 29 complexes What do we do? • Build and own beautiful affordable apartments • Provide unique first-time homebuyer loans • Provide support and training that strengthens communities and helps families build a wealthier future Nationally and locally recognized designs: AIA; Fannie Mae Maxwell Foundation; Urban Land Institute; Pacific Coast Builders Conference NeighborWorks America Charter Member

  4. Community HousingWorks • Award winning affordable housing • 29 affordable rental communities across San Diego County • Homes for over 1,600 families

  5. SOLARA is Green and Sustainable • Not just photovoltaic electricity/Solar Power • Five elements make a project “green” • Energy Efficiency - Reduce energy demand by 60-70%, • Renewable(s) – Energy Supply - use renewable energy to supply balance of demand • Water Efficiency • Recycled / Recyclable Materials • Indoor Air Quality (IAQ)

  6. SOLARA • Completed March 2007 • Poway, CA inland approx 20 miles (hot) • Mixed use master plan includes 2,100 SF office • Physical: • 56 units (1, 2, 3 bedroom), family units • 2 story wood (no elevators) • 2,100 sf Community Center • 90 parking spaces (w 56 carports) • 22 DU/Acres • 142 Kilowatts from PV (100%) • Affordable Housing- LIHTC restricted (55 yrs) • 30%-60% AMI (approx low $15k – mid $40k) • Rents - $388 - $1,075/mo (includes all utilities)

  7. Barriers Technical – how to do it? Who to trust? Finance – where to find additional funds New technology Concerns: Permits and Approvals Construction –GC, Arch, Subs Utility Companies More work, new complexities, potential delays?

  8. SOLARA = lots of challenges, little time • Time – City needed us to break ground in less than 12 month from submission of design concept! • Site - flood plain, adjacent to FEMA floodway greenbelt; expensive sitework to level site and increase density (425’ long, 8’ high retaining wall) • Team – selected prior, no one experienced with “green” • Costs– 2004/2005 high cost period in SD/USA • No model – no “LEED” guidelines for low rise residential

  9. Technically – You can do it- we did! • Decision to build Green Fall 2004 • Started Grading Oct 2005 • LIHTC allocation Jan 07 • Completed April 2007 under budget, on time How did we do it? • Mary Jane Jagodzinski, Sr Proj. Mgr provided strong leadership • Supportive City staff • Green Consultant • Luck

  10. SOLARA = Photovoltaic Electricity for residents and common area

  11. SOLARA Green Elements: Photovoltaic Example: Daytime and PV feeding the SDGE grid Meters run backwards and forwards!

  12. SOLARA Photovoltaic Cost (approx) $1,103,000 Sources CEC Rebates (State) $409,000 Tax Credit Basis Boost (State) 405,000 Investment Tax Credit (30%) (Fed) 208,000 Perm Mortgage (project based UA) 81,000 Total Sources $1,103,000

  13. SOLARA: Project Finance(prevailing wage) Loan (soft): City of Poway $ 775,000 Loan (soft): San Diego County HOME 1,000,000 Loan: Union Bank of California 2,370,000 Rebate: CEC’s ERP 409,000 Misc. Reimb / Interest 152,000 Equity: Business Tax Credits: NEF 208,000 LIH Tax Credits (9%): NEF 11,266,000 TOTAL $16,180,000 (excludes $2.2 m for land, 99-yr ground lease w/ Poway Redev.Agency)

  14. CA Green Initiatives • CA Tax Credit Agency: -5% basis boost for PV -4% basis boost for energy efficiency/Green -Note: 9% deals pay for PV 100%; 4% doesn’t • California Energy Commission/Public Utility Commission -Rebates New Construction (decrease as more built) -Grants to Nonprofits to provide TA, training, modeling

  15. CA – High Energy Efficiency Standards • California’s Energy code- “Title 24” since 1974 • Perspective: If CA not changed code in 1974, would need 1 nuclear plant every 8 miles between San Diego and San Francisco! • Per Capita Energy use in CA – lowest in US, level • SOLARA exceeded CA Title 24 by >42% (2001) • SOLARA exceeded national IBC ASHRAE 2001 standards by 80%!

  16. SOLARA: Green, Sustainable, Smart Growth • Not Just photovoltaic electricity • What 5 elements make a project “green”? • Energy Efficiency - Reduce energy demand by 60-70%, use renewable energy to supply balance of demand • Renewable(s) – Energy Supply • Water Efficiency • Recycled / Recyclable Materials • Indoor Air Quality (IAQ)

  17. SOLARA Green Elements: Site

  18. SOLARA: Green, Sustainable, 360’ • Smart Growth - location matters • Building Envelope, orientation on site • Maintenance Plans and Training Manuals • Prop Mgmt Staff Training • Resident Training and Buy In • Resident Services Program curriculum, outreach and education (Enterprise $) • Public Art & Education

  19. PublicArt

  20. What Do Developers Need? • Successful examples • Education and Technical Assistance – to developers, public jurisdictions and depts • State & Local Agency Coordination and Support • Utility Company commitment and attention -state action helps; utilities heavily regulated • Funding for Capital Costs – Policy changes

  21. Policy Needs - Funding • State and Local Gov must support PV and Green - Rebates work best • Federal ITC – excellent, preserve • Local Gov - Expedite permits and review process • Utility Companies – create incentive & expedite programs • Requires state by state policy changes (federal Section 42 incentives?)

  22. SOLARA

  23. SOLARA Photovoltaic

  24. S O L A R A

  25. S O L A R A