A new 50-unit community is providing affordable housing for rent-burdened families and permanent supportive housing for individuals with special needs in Riverside, California.
Developed by Palm Communities, Cedar Glen II is the second phase of a broader affordable development community and the first community in western Riverside County to utilize No Place Like Home funds from the state, specifically targeting individuals and families who have been homeless, according to the development team.
“California is experiencing an extreme shortage of nearly 1 million affordable rental housing units for low-income renters. Riverside is ramping up its efforts to meet this demand, and we are thankful to the Riverside City Council and the county Board of Supervisors for supporting the development of Cedar Glen,” said Dan Horn, president of Palm Communities. “Affordable housing is making a clear difference in the lives of our residents and improving the communities in which we build.”
Horn is a second-generation affordable housing developer with over 50 years of experience. He’s directed the development of more than 2,000 units of affordable housing throughout California and over 2,000 units of single-family housing in Riverside County since founding the company in 1979.
Cedar Glen II offers 24 one- and 25 three-bedroom affordable homes, and the service-enriched community features a clubhouse, a kitchen, a computer lab, a tot lot, a basketball/futsal court, and a walking circuit with exercise equipment. Additionally, residents will have access to on-site case management and connectivity to other services in the community.
The one-bedroom apartments are permanent supportive housing units dedicated to individuals who have been homeless. The residents will receive supportive services from Riverside University Health System—Behavioral Health. All 49 units will receive social services from C.A.R.E. (Communities Advocating for Resident Empowerment), which includes after-school programs and adult education, health, wellness, and/or skill-building classes.
The one-bedroom units are reserved for residents earning no more than 20%, 25%, and 30% of the area median income (AMI). As for the three-bedroom homes, three serve families earning up to 30% of the AMI and 22 serve those earning up to 60% of the AMI.
Financing for the approximately $25.7 million development includes low-income housing tax credit equity from Boston Financial Investment Management. The state, Riverside County, and the city of Riverside also provided key financing.
Cedar Glen II is the fifth community in which Palm Communities and Riverside County have partnered to provide permanent supportive housing in the area.
“Restoring private-sector jobs, improving local infrastructure, and investing in affordable housing are ideal opportunities to increase economic development in Riverside,” said Kevin Jeffries, a member of the Riverside County Board of Supervisors. “It is essential that quality permanent supportive housing opportunities are built to keep the positive trajectory of growth for our neighborhoods, businesses, and families.”