Westminster Manor Welcomes the San Diego Press Club

 Chelsea Investment Corporation's founder and CEO, Jim Schmid, gave the opening remarks on the topic of building affordable housing in San Diego.

Chelsea Investment Corporation's founder and CEO, Jim Schmid, gave the opening remarks on the topic of building affordable housing in San Diego.

Last month Westminster Manor had the honor of hosting The San Diego Press Club for their annual Speed Pitching event, the goal being to make meaningful connections, quickly. Guests were invited to pitch their story angle in 2 minutes or less to a select group of media professionals.

  San Diego Magazine ,  San Diego Business Journal ,  Modern Luxury ,  The Daily Transcrip t,  Ranch & Coast ,  Times of San Diego  and  San Diego Home/Garden Magazine  were among the media outlets represented at the San Diego Press Club event.

San Diego Magazine, San Diego Business Journal, Modern Luxury, The Daily Transcript, Ranch & Coast, Times of San Diego and San Diego Home/Garden Magazine were among the media outlets represented at the San Diego Press Club event.

After meeting some of the local press corps, Jim Schmid was invited to write a series of columns on housing affordability in San Diego. He'll kick it off with the latest news from Housing You Matters, a broad binational coalition working to help make homes at all price points more economically feasible to develop.

 

Connections were made, stories were pitched and a productive night was had by all who attended. CIC is pleased with the way the renovation of Westminster Manor turned out and we are grateful for the opportunity to host such a worthy organization as The San Diego Press Club. 

 Read, set, pitch!

Read, set, pitch!

 The Westminster Manor dining room is a place for the senior residents to gather and share a sense of community. 

The Westminster Manor dining room is a place for the senior residents to gather and share a sense of community. 

Project Update on Ouchi Courtyards- Affordable Housing In San Diego

 Scaffolding has now been removed from the building's exterior allowing the finished stucco and color to shine through.

Scaffolding has now been removed from the building's exterior allowing the finished stucco and color to shine through.

Construction of Ouchi Courtyards Apartments, an affordable housing building, is approximately 80 percent complete! 

These affordable residential units will open up high quality housing options to low income families who couldn't otherwise afford the cost of living in this San Diego neighborhood. In addition, Ouchi is also the second property ever built in San Diego County which set aside units specifically for people with developmental disabilities- the other, Independence Point, was also built by CIC. 

 The Ouchi Courtyard groundbreaking on March 25, 2016.

The Ouchi Courtyard groundbreaking on March 25, 2016.

“The Ouchi Courtyard is a 45 unit, 3 story project that will bring more affordable housing to my community.” ~The Honorable San Diego City Councilmember Myrtle Cole (District 4)

Families interested in leasing the two- and three-bedroom units can join the interest list by clicking HERE.

When peoples' basic housing needs are met it opens up opportunities for them to thrive. Chelsea Investment Corporation is grateful to play a role in the process. 

Independence Point- Improving Lives Through Affordable Housing

 Agueda Aguirre shares a three bedroom Independence Point town home with her children, including her 5 year-old developmentally disabled son, Esteban. 

Agueda Aguirre shares a three bedroom Independence Point town home with her children, including her 5 year-old developmentally disabled son, Esteban. 

When Chelsea Investment Corp. opened Independence Point in Lincoln Park just 10 months ago, it was San Diego’s first affordable housing community built with apartments set aside for people with a developmental disability. 

Last week we had the opportunity to meet with Agueda Aguirre, a resident at Independence Point who for five years prior to her move was living in a friend’s garage. Agueda, a single mother of four including a five year-old son with Down’s Syndrome, endured unimaginable conditions in order to stay off the street. She described for us the extreme temperatures, rodent and insect problems, and the heartbreak of needing her eldest daughter’s help, knowing she should be in school. 

Since moving to Independence Point, her son is thriving, her eldest daughter is back at college studying for her teaching credential and her 18 year-old daughter is attending Grossmont College as a freshman, planning to transfer to UCSD and ultimately become a history teacher. 

When a family's basic needs are met, they are free to pursue higher needs such as education and well-being, both physical and mental. 

“Imagine for a moment that you’re a parent or a family member of a person with a developmental disability,” said Jim Schmid, president and CEO of Chelsea Investment Corp. “Your single biggest fear is, “where will my child, brother or sister live when I’m gone?” Independence Point is a place where individuals can live independently in homes that are designed to meet their unique circumstances.”

Thanks to its funding and development agreements, Independent Point will maintain its affordable designation for 55 years. It is convenient to grocery stores, schools and public transportation and benefits from on- and off-site social services provided by the Southern California Housing Collaborative, through the San Diego Regional Center.

The Renovation of Westminster Manor Earns the National Spotlight

  The newly renovated Westminster Manor.

The newly renovated Westminster Manor.

Every industry has its own version of the “Oscars” and the apartment and condo marketplace is no different. Each year, leaders in that industry (known as “multifamily” development) gather at the International Builders Show to showcase best practices and high achievers.

This past week in Orlando, our Westminster Manor tower for low income seniors was cast into the spotlight as a finalist for Best Acquisition/Rehabilitation of an Affordable Apartment Community.

The National Association of Home Builders annual Multifamily Pillars of the Industry Awards must have seen what we believe to be true: the renovation of Westminster Manor could be a model for similar projects.

 The dining room at Westminster Manor overlooking the San Diego skyline.

The dining room at Westminster Manor overlooking the San Diego skyline.

What was our challenge? How do you renovate a “tired” building that is currently occupied with long-term tenants who must be temporarily relocated for several months? Many of the folks living at 1730 Third Avenue had occupied that 16-story building for decades;  Safe to say, most of them were pretty anxious about moving out and being relocated for up to six months.

We were lucky enough to work with Joe Gavin - Senior Care Navigator at Serving Seniors - who moved his office to Westminster Manor months in advance of the move. Joe is affable and professional, and he quickly became immersed in the lives and needs of our residents. We can’t thank Joe – and Serving Seniors – enough for successfully assisting in the relocation and return of our residents. 

For more on the Westminster Manor story, click here.

Congratulations to Tim Baker and his colleagues here at Chelsea … and a huge shout out to the management team at ConAm Management Corp. as well as to Joe Gavin, Paul Downey and the incredible team from Serving Seniors who helped our seniors navigate the challenges of a major move.

We promise you, the residents are loving the results of the renovation! 

Making Christmas Bright- Toy Drive for St. Vincent De Paul

"No one has ever become poor by giving." ~Anne Frank

It's a wrap! This year for our holiday toy drive we teamed up with local home builder, Davidson Communities and together we collected over 200 toys! 

It Takes A Village

St. Vincent de Paul Village is the cornerstone of San Diego’s fight to prevent and end homelessness one life at a time. As a one-stop center to address all of the rehabilitative needs of the homeless, St. Vincent de Paul offers an array of housing and supportive services.

 Santa's Village- A room filled with holiday cheer. 

Santa's Village- A room filled with holiday cheer. 

Thank you to everyone who gave so generously. Together we made an difference in the lives of San Diego children in need. 

If you would like to donate any new or gently-used goods, clothing or furniture, call 1-800-HOMELESS.

A Holiday Meal at Alpha Square

  The Chelsea Investment Corporation/Emmerson Construction team had the honor of serving the residents of Alpha Square on December 9th. 

The Chelsea Investment Corporation/Emmerson Construction team had the honor of serving the residents of Alpha Square on December 9th. 

A wonderful time was had by all at last Friday's holiday luncheon at Alpha Square. When people join together to serve the community, it is a win for everyone involved. 

  The dining room at Alpha Square- a place to gather and share a meal. 

The dining room at Alpha Square- a place to gather and share a meal. 

Thank you to our Platinum Sponsors Thunder-Jones Contracting Group, AMG Demolition, and Concrete Contractors Interstate for helping Chelsea and Emmerson host a holiday luncheon for the residents of Alpha Square.  

  We are grateful for the opportunity to have served a delicious meal with all the trimmings. 

We are grateful for the opportunity to have served a delicious meal with all the trimmings. 

With generous donations from our Platinum Sponsors, as well as from Fiber Care Baths, Labor Compliance Consultants of Southern California, Mark Harris Plumbing, and HCI Systems, we were able to provide a roast turkey meal with all the trimmings for the 201 residents.

Completed just one year ago, Alpha Square is an award-winning affordable apartment building in downtown San Diego for households at risk of homelessness.  In addition to housing, the development features a large commercial kitchen and space for recreation, services, and retail; it’s truly a successful model for the Housing First approach to ending homelessness.  Chelsea and Emmerson are honored to support the Alpha Project in its mission to end homelessness with developments like Alpha Square.

Juniper at the Preserve- A Groundbreaking Event

 “This project is very important, and the city of Carlsbad has done a good job seeing to it that affordable housing gets built in their projects.” ~ Walter Heiberg 

“This project is very important, and the city of Carlsbad has done a good job seeing to it that affordable housing gets built in their projects.” ~ Walter Heiberg 

On a crisp December morning, Chelsea Investment Corporation broke ground at Juniper at the Preserve, Cornerstone Communities’ newest master-planned community. Juniper at the Preserve, a 64 family unit garden apartment complex, is CIC’s fourth affordable housing project for the city of Carlsbad, for a total of 416 affordable homes. 

Walter Heiberg kicked off the groundbreaking event, and in his introductory remarks, mentioned a fundamental truth about the reason for affordable housing projects such as this. “The residents that we’re doing this project for, you and I see every day. They’re the clerk at the 7-11, they’re our landscapers and the substitute teacher we see every day at our school.” 

 After recognizing all of the contributing partners, Walter Heiberg thanked the city of Carlsbad, “And lastly, the city of Carlsbad, who we consider a partner in this project as well, as they have been in all of our projects."

After recognizing all of the contributing partners, Walter Heiberg thanked the city of Carlsbad, “And lastly, the city of Carlsbad, who we consider a partner in this project as well, as they have been in all of our projects."

  • Designed by San Diego architect McKinley & Associates, the project features twelve 1-bed, thirty-two 2-bed and twenty 3-bedroom units in five 2- and 3-story buildings, with a community room, landscaped courtyard and multiple outdoor areas for children to play.

  • Rents are 50 to 60% of AMI, ranging from high $700 to low $1300.

  • Leasing is expected to begin October 2017.

Developed by Carlsbad developer Chelsea Investment Corporation, and constructed by Carlsbad general contractor Emmerson Construction, Inc., Juniper at the Preserve is another project we are extremely proud to be involved with. To learn more about our history of building affordable housing in Carlsbad, visit our blog: The City of Carlsbad- Pioneering Affordable Housing Since 1993.

Inclusionary Housing with Chelsea Investment Corporation

 The Westin Bonaventure in Los Angeles- Where Legacy Meets Innovation.

The Westin Bonaventure in Los Angeles- Where Legacy Meets Innovation.

We were in our wheelhouse last month, interacting with a room full of developers, investors and property owners on the topic of inclusionary housing

The venue was the Westin Bonaventure in Los Angeles, where over 1,500 real estate industry professionals gathered for the 2016 “Where Legacy Meets Innovation” national RealShare Apartments conference. 

Invited to present as part of the “Affording Affordable Development” panel, Chelsea’s Sidney Stone addressed the challenge: how do developers meet their affordable requirement, while providing a high quality product within tight budgets. 

“Chelsea has been successful in creating more than 3,000 inclusionary units through strong partnerships with market rate developers,” Stone told the crowd. “Our developments blend in with master communities and are indistinguishable from market rate communities.”

Stone extolled the benefits of partnering with an affordable housing developer that has an in-house financing team, as well an as in-house construction operation. 

“Both of these alliances assure timely completion and quality control, and promote greater access to capital markets,” said Stone.

Earlier last month in northern San Diego, Chelsea opened Torrey Vale Apartments, where 28 affordable units met two inclusionary requirements of master developer Taylor Morrison. Torrey Vale was completed well within budget and several months ahead of schedule.

 Torrey Vale Apartments.

Torrey Vale Apartments.

“This closed escrow in January, so this is 10 months of construction and these families are in,” said Debbie Ruane of the San Diego Housing Commission, during a recent grand opening ceremony. “Twenty eight families are already housed in this amazing community.” 

Fore more information on Chelsea’s inclusionary housing expertise, contact Sidney Stone at 562-266-8331 or via email: sstone@chelseainvestmentco.com

Alpha Square- Big Project, Big Heart.

 Architect: Joseph Wong Design Associates. Contractor: Emmerson Construction.

Architect: Joseph Wong Design Associates. Contractor: Emmerson Construction.

Our City San Diego: Alpha Square Wins Affordable Housing Development Of The Year

This project is all about providing housing — very sweet housing, at that — for San Diego’s less fortunate. 

At seven stories, it boasts 201 furnished studio apartments. It’s located in East Village, where many of San Diego’s homeless congregate.

For years, new apartment and condominium developments rose all around them. How many dreamed that one might be built for them?

“Alpha Square is going to be a home for those who need a little bit of help. It’s a new beginning for San Diegans looking for a fresh start on their lives,” said San Diego Mayor Kevin Faulconer at the ribbon-cutting ceremony in November 2015.

The apartments are restricted to tenants with incomes ranging from 30 percent to 50 percent of the San Diego area’s median Income. Thirty percent is about $16,600 a year.

The project cost $47.6 million and is considered a key component to helping battle homelessness. Many homeless advocates are calling for a so-called housing-first method to battle the problem. With that, the homeless are given shelter, as well as services, to help them stabilize their lives. 

That’s what Alpha Square provides.

Peralta said “Alpha Square presents the opportunity to integrate the most vulnerable actors of our city into its urban growth plans. Inclusive housing is fundamental to a humanized and democratic development of our cities. The architects have been able to make the building fit right in with the rest of new development happening for some time in downtown San Diego. Inclusive low-income housing can also be an asset as well as interesting architecturally.”
- See more at: http://ourcitysd.com/our-city-development-of-the-year/#sthash.SlOSb2lD.yzpovn28.dpuf

 

Trolley Park Terrace- Revitalizing a Community

Chelsea Investment Corporation

“These affordable residential units will open up high quality housing options to low income families in this community who can’t otherwise afford the cost of living in our neighborhood.” ~The Honorable San Diego City Councilmember Myrtle Cole (District 4)

 Trolley Park Terrace, Southeastern San Diego's new 52-unit LEED certified affordable housing complex, was finished 48 days ahead of schedule and $900,000 under budget. 

Trolley Park Terrace, Southeastern San Diego's new 52-unit LEED certified affordable housing complex, was finished 48 days ahead of schedule and $900,000 under budget. 

On Monday October 24th we celebrated the grand opening of Trolley Park Terrace, a transit oriented infill development in southeast San Diego. Located at the corner of Market Street and Market Creek Place Driveway, this new housing complex will provide affordable housing for 52 families, with rents ranging from 18% - 26% below market rate. Built with sustainability and livability in mind, Trolley Park Terrace is located near public transit and offers its residents a computer lab in addition to financial literacy and English as a second language classes offered on site. 

This vital new neighborhood is part of a redevelopment movement initiated by The Jacobs Center For Neighborhood Innovation. The Jacobs Center, located just next door, is working to revitalize 60 acres of land to provide residents with greater access to amenities that improve their quality of life. Together we are creating the foundation to transform the area into a vibrant town center supported by high-quality infrastructure, specialized industries, entrepreneurs, and artists. This redevelopment work not only brings places for residents of the Diamond Neighborhoods to shop, dine, work, and gather, it also brings new places to live.  In the words of San Diego Mayor Kevin Faulconer, who was present for the grand opening, "Trolley Park Terrace is the kind of smart development that San Diego needs to bring affordable housing to the families who need it the most.” 

   Trolley Park Terrace is about creating the home and opportunities for our residents to thrive.

 Trolley Park Terrace is about creating the home and opportunities for our residents to thrive.

Trolley Park Terrace is currently at 100% occupancy. To join the waiting list please click HERE.