SAN JOSE, Calif., April 19, 2012 /PRNewswire/ -- The Housing Authority of the County of Santa Clara (HACSC) will hold a grand re-opening of the Sunset Garden Apartments in Gilroy, California, showcasing the agency's successful program of upgrading and revitalizing traditional Public Housing via creative public-private partnerships. Guests of honor for the gala event are U.S. Representative Mike Honda, Santa Clara County Supervisor Mike Wasserman, and Gilroy Mayor Al Pinheiro. The press is cordially invited to attend on Monday, April 23, from 11 a.m. to 1:00 p.m., at Sunset Garden Apartments, 7750 Wren Avenue, Gilroy, California 95020.
HACSC Solves a Stubborn Housing Problem
Built and funded under the federal government's Public Housing program for low-income renters in the 1980s and 1990s, 10 properties in Santa Clara, San Jose, Gilroy, and Campbell, California faced a steady downward trend in federal funding, maintenance and renovation.
But through a creative partnering of public and private parties, HACSC in the past three years has rehabilitated and upgraded 100% of its 555 Public Housing units, preserving critical low income housing options in one the country's hottest rental markets.
HACSC leveraged over $90 million in private funds from tax credits, loans, and bonds. The total cost of the construction work was approximately $84 million, and addressed millions of dollars of deferred capital work that could not be financed from the Department of Housing and Urban Development's annual Capital Grant for Public Housing. Four different general contractors were hired to complete these projects, and the work has created over 400 jobs for construction workers, legal and architectural professionals, as well as city building inspectors.
"We've proven that public-private partnerships are a successful formula for serving the low-income housing needs of Santa Clara County, and indeed, the nation," said Alex Sanchez, executive director of HACSC. "Sunset Garden Apartments is one shining example of what can be achieved."
About the Sunset Garden Apartments Project
Originally built in 1982, Sunset Garden Apartments contains 74 units of one- and two-bedroom housing units primarily for seniors and the disabled. In addition to improvements to the apartments, residents were also provided with a completely new and expanded community center and a fully accessible garden. Tenants were relocated temporarily during the rehabilitation, either on site or offsite, and resident services such as case management, educational classes and after school programs continued to be provided. The project came in on time and under budget.
HACSC's Real Estate Services
To date, HACSC has newly constructed, rehabilitated and served as developer/owner for over 30 Santa Clara County housing developments serving families, seniors, persons with disabilities, migrant farmworkers and the homeless population.
"If the deterioration of these properties had remained unaddressed, many buildings faced the likelihood of closure in the next few years," said Vanessa Cooper, HACSC's director of real estate services. "Those closures would have resulted in a tragic and significant loss of low rent housing for some of the most vulnerable in our community."
The prospect of this unacceptable outcome compelled HACSC to be among the first housing authorities in the country to pursue the only viable option: Exit the Public Housing program and creatively change the ownership structure of the properties.
HACSC is the largest provider of affordable housing assistance in Santa Clara County, helping make rental housing safe and affordable for low-income families through Section 8 voucher programs and below-market rental properties. Designated a Moving to Work agency, HACSC currently assists over 19,000 households, the highest number in its history. The vast majority of client households are extremely low-income families with children, seniors, veterans, the disabled, and the formerly homeless.
HACSC is a pioneer in using the Low Income Housing Tax Credit program to develop affordable rental housing. It has built over 2,000 units, and received numerous awards. HACSC is the first housing authority in the nation to be given a "Strong" ranking by Standard & Poor's, and has 10 consecutive years of clean financial audits.
For further information about this release, please contact Alex Sanchez, HACSC executive director, at 831-295-3656 or Vanessa Cooper, director of HACSC real estate services, at 408-916-6772. For further information about HACSC, visit www.hacsc.org. The Housing Authority of the County of Santa Clara is located at 505 West Julian Street, San Jose, California, 95110.
SOURCE Housing Authority of the County of Santa Clara