El Monte Veterans Village Project

City of El Monte, CA2013

Discussion Points • Regional Veterans Housing Profile• Need for Veterans Housing • Project Description• Conceptual Design• Site Amenities• Programmatic Services• Developer Profile• Development Disposition

Agreement• Progress/Grand Opening• Q&A

Regional Veterans Housing Profile

• Los Angeles County has the largest population of military veterans in the nation

• More than 8,000 homeless veterans live in Los Angeles County

• Estimated that 400 homeless veterans reside in San Gabriel Valley

Need for Veterans Housing• Many current and returning veterans will be coming home• Veterans housing is primarily transitional in nature.• Private housing solutions do not provide wrap around

services• Meets City’s Housing Element and Consolidated Plan goals and objectives

Project Description

MERCY HOUSING VETERANS HOUSING PROJECTS

# of Units 41 one-bedroom studios apts.

Unit Size Approx. 485 - 510 sq. ft.

Building Height 3 stories/approx. 36 ft.

On-Site Support Services Yes

Property Manager Yes / 1 unit

Parking 41 stalls (16 covered/25 surface)

Conceptual Design

Street view from Stewart Street

Conceptual Design

Site Plan

Site Amenities

• VFW Hall • El Monte City Hall • MTA Bus Station• El Monte Valley Mall • El Monte Metrolink Station• Northgate Market • 99 cents Only Store• El Monte Adult School • Smart & Final• El Monte City Hall • Auto Zone Auto Parts• Local Banks • MTA Bus Stop #190 • Foothill Trans. Bus Stop #488• Santa Monica (10) Fwy • Central San Gabriel Valley Work Source Center

Programmatic Services• New Directions• Case Management Services• Vocational Support

• Computer/Technology Training• Family Reunification• Legal Services• Transportation Support• Job Training

Financing Sources• VASH Vouchers• Tax Credit Equity (TCAC)• City of Industry Housing Funds• Affordable Housing Program• HUD/City HOME Funding

Mercy Housing Developments• Boulevard Court - Sacramento, CA

Mercy Housing Developments• Johnston Center Residences -

Milwaukee

Mercy Housing Developments• Westbrook Plaza, San Francisco,

CA

Developer Profile – Mercy Housing• Founded in 1981 by the Sisters of

Mercy• Over 20 years of experience• One of the largest workforce housing

developers in the State• Created over 7,000 multifamily housing

units and 3,000 single family homes• Partnered with over 85 cities• Contact Ed Holder: (213) 743-5830

Development Disposition Agreement

Deal Points:• Loan Term - 55 years at 0%

interest per annum• $50k in Predevelopment Costs• Loan Amount - $411,224 in HOME

funds• Land disposition to Developer for

$825,000

Construction Progress• 80% Complete• Grand Opening: March 12, 2014

(10:00am)

Questions?