A new development is providing housing opportunities for youths, including those aging out of foster care, in Riverside, California.
Developed by Innovative Housing Opportunities (IHO), The Aspire features 33 furnished one-bedroom units that are approximately 450 square feet in size with a patio/deck. Community amenities include an interior courtyard, a roof terrace,a communal living room, and public art.
In addition, the new development will offer on-site educational programs and services provided by the California Family Life Center. The property is also collaborating with the Riverside Community College District.
“We envisioned The Aspire as a launchpad to equip these young people with the tools to chart a path for ongoing personal and economic success. Within this community we can provide stability and safety as well as help our resident to plan for and pursue their future goals,” says IHO president and CEO Rochelle Mills.
The Aspire is the nonprofit’s first development intended specifically for foster youth transitioning out of the system.
Including The Aspire, IHO has nine properties with 672 affordable housing units under management in Southern California.
“No young person should have to worry about shelter or sleep on the streets when they should be attending school or becoming a member of our workforce,” says Riverside mayor Lock Dawson. “We did it for veterans, and now we can do it for our youth.”
The Aspire is a significant part of her Mayor’s Challenge to End Youth Homelessness. When the program was launched in 2023, city leaders noted that youth who are homeless are more than five times more likely to be chronically homeless as adults, and foster youth are especially vulnerable.
The $25 million development was funded with low-income housing tax credit equity from Red Stone Equity Partners, the state Department of Housing and Community Development’s Multifamily Housing Program, funds from the city, and a loan from Banner Bank. The Aspire is also supported by project-based housing choice vouchers from the Housing Authority of the County of Riverside.
