A mixed-income development is delivering new housing options to downtown San Diego.
Developed by Affirmed Housing, The Helm features 77 studio apartments, with 32 set aside for those earning up to 30% of the area median income (AMI), four set at 60% of the AMI, and 41 for residents earning up to 80% of the AMI. The studios set at 30% of the AMI receive project-based vouchers issued by the San Diego Housing Commission. There’s also a two-bedroom manager’s unit.
“The Helm helps San Diego fulfill its goals and deliver on commitments that prioritize its core values—fostering the health, economic prosperity and well-being of all citizens,” said Affirmed Housing president Jimmy Silverwood. “This development not only delivers much-needed workforce housing, but it promotes inclusive living and supports a healthy economic ecosystem—and it also happens to be affordable. I’m proud of what Affirmed Housing and our partners have accomplished with The Helm.”
Haley Hill Photography
The seven-story, GreenPoint Rated building features a first-floor bicycle shop that opens to Beech Street, taking advantage of the protected cycle tracks running along the street and providing seamless access to several amenities in the area. Situated just steps from Little Italy, The Helm is within walking distance to retail, restaurants, grocery stores, and public transportation.
The $39.2 million development is Affirmed Housing’s first to serve a majority of residents at 80% of the AMI and its first to utilize the California Housing Finance Agency’s Mixed-Income Program, which provides financing for multifamily housing developments with units between 30% and 120% of the AMI.
Other development partners include Carrier Johnson + CULTURE, HA Builder, Kettler Leweck Engineering, form/work Landscape Architecture, NOVA Services, Power Plus, MA Engineers, KPFF Engineers, Elen Consulting, Inc., U.S. Bank, California Community Reinvestment Corp., the city of San Diego, the California Debt Allocation Committee, and the California Tax Credit Allocation Committee.
