EAH Housing has started construction on a 76-unit affordable housing community for seniors in Hayward, California.
Featuring two buildings, Mission Paradise will serve residents with incomes ranging from 20% to 80% of the area median income. Fifteen units will be reserved for formerly homeless individuals and families, 11 of which are designated No Place Like Home units reserved for households with an individual with a severe mental illness.
“The EAH Housing team is wholly committed to meeting the needs of low-income seniors,” said Laura Hall, president and CEO of EAH Housing, a leading nonprofit developer. “We understand a roof is just the beginning, which is why this project, like all of our developments, offers a diverse selection of amenities and resources designed to enrich the lives of those who need it most.”
The development will feature a community room, an exercise room, on-site laundry, an outdoor roof deck area, a yoga deck, a computer lab, on-site parking, and 24/7 staff. In addition, there will be a resource coordinator for all units and case management services offered for the 15 formerly homeless households.
The California Department of Housing and Community Development (HCD) was also an important partner, providing financing through the California Housing Accelerator, Multifamily Housing Program, and No Place Like Home programs.
The California Housing Accelerator is supported with monies received from the Coronavirus State Fiscal Recovery Fund established by the American Rescue Plan Act. Mission Paradise has been awarded $35.5 million from the program, which aims to assist shovel-ready projects move forward without low-income housing tax credits or tax-exempt bond allocations.
“Transit-oriented communities like Mission Paradise help us meet not only our goal of building 2.5 million new homes statewide by 2030, but also our mission to reduce commutes and connect people to job centers and opportunity,” said HCD director Gustavo Velasquez. “I am proud of the work our team at HCD did to secure the funding to make the Mission Paradise community a reality.”
Other financing participants include JPMorgan Chase, the city of Hayward, and Alameda County.
“It has been a pleasure to work with our partner EAH Housing, to bring this much-anticipated affordable housing development to life,” said Eri Kameyama, vice president of community development banking for JPMorgan Chase, the project lender. “These homes will be an indispensable asset for seniors in the community, and we’re committed to working with industry leaders like EAH Housing to help close the housing gap.”
