Eden Housing is celebrating Veterans Day by breaking ground on its latest development.
The Dublin Family Apartments will feature 66 affordable units targeted toward vets.
“The face of veterans has really changed,” says Linda Mandolini, president of the nonprofit affordable housing firm. Recognizing that there are more female vets and veterans with young families, Eden is building a development to meet their needs.
The project, which is being developed in collaboration with the Housing Authority of the County of Alameda and the city of Dublin, will provide a mix of one-, two-, and three-bedroom apartments to households earning between 30% and 60% of the area median income. A ground-breaking ceremony was set to take place on Veterans Day.
Both Eden and the city were interested in developing veterans housing, according to Mandolini.
As an urban infill project, the development will be a vital linchpin in the redevelopment of downtown Dublin. Designed and entitled as part of a master development that includes a market-rate housing component across the street, Dublin Family Apartments will transform a vacant lot—formerly a car dealership—into a vibrant community.
Through an agreement with Bay West, the developer of the nearby market-rate housing and retail complex, Dublin officials were able to offer the land, valued at approximately $2.6 million, to Eden Housing for just $100.
Receiving the land donation was a huge step in making the deal feasible.
It’s a testament to the power of inclusionary ordinances and the ability to forge partnerships with market-rate developers, says Mandolini.
The development will be located near a BART train station and within walking distance to schools, job centers, and retail stores. Dublin is also home to Camp Parks, a reserve forces training facility.
Financing for the $33 million project includes tax-exempt bonds and 4% low-income housing tax credit equity. Several state agencies are involved including the California Tax Credit Allocation Committee, the Debt Limit Allocation Committee, and Department of Housing and Community Development. Bank of America Merrill Lynch is the tax credit investor and provided a soft loan. The California Community Reinvestment Corp. is the permanent lender, and Home Depot, which has been a big supporter of veterans housing, also contributed to the project.
The housing authority is providing 25 Sec. 8 vouchers. Officials will explore replacing those with project-based Department of Housing and Urban Development—Veterans Affairs Supportive Housing vouchers. The development team is also partnering with Abode Services, which will offer assorted programs and services to residents.
