Urban Housing Communities, LLC (UHC), has begun construction on The Crossings at Big Bear Lake, a 42-unit affordable housing development that will be the California resort community’s first affordable project targeted toward families.
The $17 million development will feature 28 two-bedroom, two-story townhomes and 14 three-bedroom, single-story flats.
Home to 6,000 full-time residents, Big Bear Lake is a popular vacation destination.
“A certain level of affordability is required to sustain the local workforce that support the city’s year-round recreation activities that entice vacationers to the area, such as skiing and snowboarding during the winter and boating and biking in the summer,” said John Bigley, COO of UHC.
The Crossings at Big Bear Lake will help the city attract and retain businesses and employees, added Bigley.
Rents are expected to range from $449 to $1,038 per month, depending on household income. The apartments will target families earning between 30 percent and 60 percent of the San Bernardino County median income.
UHC partnered with the city of Big Bear Lake’s Improvement Agency, which is providing a soft loan. UHC also secured 9 percent low-income housing tax credits. Financing partners include Bank of America Community Development Corp., Bank of America, and the National Equity Fund, Inc.
KTGY Group, Inc., designed the development with heavy timber details to fit with the mountain community.
