PALMDALE, CA - RAAM Construction, Inc., a general building construction firm specializing in multifamily projects throughout California, has broken ground on the construction of an affordable multifamily housing development in Palmdale, California.
Palmdale Terrace will consist of a three-story building connected to a two-story building with a total of 151 family apartment units in Palmdale, an area where budget-friendly housing for families is scarce, according to Richard Lara, President of RAAM Construction.
“There is a deep need for new and affordable housing in Palmdale, as vacant housing units currently sit at just 7.4%” says Lara. “Palmdale Terrace will help fill this void in the community by providing brand-new, fully equipped and affordably priced residential units for families and individuals that need it most.”
RAAM is working closely with Meta Housing Corporation, a developer of affordable housing communities for families and seniors, along with Western Community Housing, AMJ Construction Management and Y&M Architects, to deliver the new residences for individuals and families in the Palmdale market earning between 30% and 60% of Los Angeles County’s median income. Valued at roughly $60,900,000, the project is being developed with the help of a construction loan from Pacific Western Bank, and potentially other sources, for $40,502,120.
Previously, Meta and RAAM have worked together on projects including Arboleda Senior Apartments, an affordable senior housing community in La Puente, California, and Juniper Grove, another affordable housing community in Palmdale, California.
“We have worked with Meta on several projects over the years, most of which have been the development and construction of affordable housing throughout California,” says Lara. “This partnership has allowed us to form a strong understanding of Meta’s needs and how to best work together to navigate the evolving affordable housing landscape while keeping projects on time and on budget.”
RAAM acts as a true partner to its clients, which in turn helps to create a seamless construction process from start to finish. Ultimately, saving time and money for clients like Meta over the long term, explains Lara.
“During the pre-construction phase, our firm has been working closely with the design team to provide preliminary cost estimates to Meta Housing that help guide the design and create an accurate project schedule and a budget that is aligned with the project’s design goals,” says Lara. “In addition, we determine the materials needed to ensure that our manufacturers can get us all project materials on time. This is especially important as more than 90% of builders have reported shortages of essential items such as appliances, lumber and plywood, according to a recent survey conducted by National Association of Home Builders.”
When construction is completed, Palmdale Terrace will offer a mix of one-, two- and three-bedroom units. All units will have fully equipped kitchens and bathrooms with onsite amenities including spacious community gathering areas, a shaded picnic area, a large children’s play structure, and a dog park. Two units will be dedicated for onsite managers, who will reside at the property and ensure that the residents and the neighboring community have a constant point of contact.
The development is situated in close proximity to 7-Eleven; restaurants including Doublz, Las Cazuelas, El Cevichazo, and El Pollo Loco; schools including Palmdale High School and Manzanita Elementary School; and public parks including William J. McAdam Park.
Palmdale Terrace is expected to be completed in May 2023. The development is located at SW 25th St East and East Ave, Palmdale, CA 93550.
About RAAM Construction, Inc. RAAM Construction, Inc. creates high-quality environments for living, working, and relaxing. Through collaboration, transparency, integrity, and an unyielding commitment to quality, RAAM builds projects that reflect local traditions and revitalize neighborhoods. More information is available at www.raamconstruction.com