SAN DIEGO, Oct. 4, 2016 /PRNewswire/ -- Affirmed Housing is pleased to announce that the San Diego City Council unanimously approved Civic San Diego's recommendation to enter into an Exclusive Negotiating Agreement with Affirmed Housing for a proposed development at the corner of Hilltop and Euclid in the Encanto neighborhood of San Diego. This approval, which came on Tuesday, September 27, 2016, allows Affirmed and Civic San Diego to move forward in reaching an agreement for the development of the site. Affirmed was selected through a competitive Request for Proposals process to develop a high quality, mixed-use project that provides retail and much-needed affordable and market-rate homes. The proposed development at the currently vacant property will feature further community outreach and will contribute to a sense of identity for the neighborhood.
Affirmed Housing's development at Hilltop and Euclid will be a mixed-use project including market rate single family for-sale homes, 84 affordable apartments for families who earn 50%-60% of the Area Median Income (AMI), 8,300 square feet of retail space, and a park that can be used for local events such as a farmers market. The existing arroyo that bisects the site will become the focal point, uniting the east and west sides into a cohesive place via a pedestrian bridge. The development will also feature drought-tolerant landscaping and façades designed to seamlessly blend with the surrounding community. The development will focus on revitalizing and driving new retail to the local area, and creating a sense of economic prosperity for the neighborhood.
James Silverwood, President & CEO of Affirmed Housing, says, "Our team put a lot of thought into the design and program of this new development, and we believe that it will enrich and regenerate the local community while advancing the goals of the Encanto Neighborhood's Community Plan."
Headquartered in San Diego, Affirmed Housing is dedicated to improving and sustaining the viability of California through the development of affordable housing. The company aims to enhance communities and our environment by building dynamic, professionally-managed, high-quality, green multifamily housing. Areas of expertise include site selection, engineering, architecture, construction, relocation, and marketing. Affirmed also has extensive knowledge in public finance, low-income housing tax credits, and tax-exempt bond financing. For more information, visit www.affirmedhousing.com.
Contact: Beth Binger
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SOURCE Affirmed Housing