NEWPORT BEACH, CA - Community Development Partners announced that Rocky Hill Veterans Housing has closed on its construction financing, with construction about to get underway. The $21-million project, located at 582 Rocky Hill Rd in Vacaville, CA will provide much-needed housing for chronically homeless veterans, and low-income veterans and families. As one of the only new affordable developments targeting veterans in Solano County, this project will expand regional housing opportunities for those with few affordable options.
Rocky Hill will consist of 39 new, high-quality permanent rental homes for people earning 15% to 60% of the Area Median Income. Twenty-nine units will be reserved solely for veterans, with the remainder having a veteran preference. Eleven of the veterans' units will have Project-Based rental assistance through the VASH program and will serve as Permanent Supportive Housing (PSH). PSH is a solution for homelessness that combines housing, rental assistance and onsite supportive services. The VASH program couples VA Case Management Services with HUD Sec-8 Rental Assistance. The innovative project's structural system is comprised of modified steel shipping containers, which is stronger than typical wood framing. The project is designed to achieve LEED Gold certification, and is scheduled for completion in December 2017.
"Rocky Hill was designed to strengthen the community by offering amenities such as community gardens, a central zócalo, and art installations visible from the street," says Kyle Paine, President of Community Development Partners, the project's developer. "The goal is to promote interaction among residents and the surrounding neighborhood. A resident services coordinator will work with community partners to strengthen the neighborhood."
The project's financial partners include: Citibank, National Equity Fund, Veterans Housing and Homelessness Prevention (VHHP) program, City of Vacaville, and California Statewide Communities Development Authority. Supportive Services provided by CAN-B, the Veterans Administration and LifeSTEPS. Property management provided by Solari Enterprises, construction by Precision General Commercial Contractors, and shipping containers by GrowthPoint Structures. Vacaville Community Housing is the non-profit partner and Integrity Housing is the Co-General partner.
Source: Community Development Partners / #Affordable #Housing