solara : affordable housing as green sustainable development anne wilson vice president real estate...
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SOLARA: Affordable Housing asGreen Sustainable Development
Anne Wilson Vice President Real Estate Development
Community HousingWorks
North Caroline Affordable Housing ConferenceOctober 16, 2007
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SOLARAThe first apartment complex in CA fully powered by the sun
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Community HousingWorksA San Diego non-profit that helps people and neighborhoods move up in the world by
providing a full range of housing options combined with training and support.
25 years history in San Diego Home Ownership Center; 17 as Multi-Family Developer1550 apartment homes; 29 complexes
What do we do?• Build and own beautiful affordable apartments• Provide unique first-time homebuyer loans• Provide support and training that strengthens communities and helps families build a
wealthier future
Nationally and locally recognized designs: AIA; Fannie Mae Maxwell Foundation; Urban Land Institute; Pacific Coast Builders Conference
NeighborWorks America Charter Member
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Community HousingWorks•Award winning affordable housing
•29 affordable rental communities across San Diego County
•Homes for over 1,600 families
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SOLARA is Green and Sustainable
Not just photovoltaic electricity/Solar Power Five elements make a project “green”
Energy Efficiency - Reduce energy demand by 60-70%,
Renewable(s) – Energy Supply - use renewable energy to supply balance of demand
Water Efficiency Recycled / Recyclable Materials Indoor Air Quality (IAQ)
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SOLARA
Completed March 2007 Poway, CA inland approx 20 miles (hot) Mixed use master plan includes 2,100 SF office Physical:
56 units (1, 2, 3 bedroom), family units 2 story wood (no elevators) 2,100 sf Community Center 90 parking spaces (w 56 carports) 22 DU/Acres 142 Kilowatts from PV (100%)
Affordable Housing- LIHTC restricted (55 yrs) 30%-60% AMI (approx low $15k – mid $40k) Rents - $388 - $1,075/mo (includes all utilities)
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Barriers
Technical – how to do it? Who to trust? Finance – where to find additional funds New technology Concerns:
Permits and ApprovalsConstruction –GC, Arch, Subs Utility Companies
More work, new complexities, potential delays?
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SOLARA = lots of challenges, little time Time – City needed us to break ground in less than
12 month from submission of design concept! Site - flood plain, adjacent to FEMA floodway
greenbelt; expensive sitework to level site and increase density (425’ long, 8’ high retaining wall)
Team – selected prior, no one experienced with “green”
Costs– 2004/2005 high cost period in SD/USA No model – no “LEED” guidelines for low rise
residential
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Technically – You can do it- we did!
Decision to build Green Fall 2004 Started Grading Oct 2005 LIHTC allocation Jan 07 Completed April 2007
under budget, on time
How did we do it? Mary Jane Jagodzinski, Sr Proj. Mgr provided strong
leadership Supportive City staff Green Consultant Luck
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SOLARA = Photovoltaic Electricity for residents and common area
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SOLARA Green Elements: Photovoltaic
Example: Daytime and PV feeding the SDGE grid
Meters run backwards and forwards!
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SOLARA Photovoltaic
Cost (approx) $1,103,000
Sources
CEC Rebates (State) $409,000 Tax Credit Basis Boost (State) 405,000 Investment Tax Credit (30%) (Fed) 208,000 Perm Mortgage (project based UA) 81,000
Total Sources $1,103,000
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SOLARA: Project Finance(prevailing wage)
Loan (soft): City of Poway $ 775,000Loan (soft): San Diego County HOME 1,000,000Loan: Union Bank of California 2,370,000Rebate: CEC’s ERP 409,000Misc. Reimb / Interest 152,000Equity: Business Tax Credits: NEF 208,000 LIH Tax Credits (9%): NEF 11,266,000
TOTAL $16,180,000
(excludes $2.2 m for land, 99-yr ground lease w/ Poway Redev.Agency)
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CA Green Initiatives
• CA Tax Credit Agency:-5% basis boost for PV-4% basis boost for energy efficiency/Green
-Note: 9% deals pay for PV 100%; 4% doesn’t • California Energy Commission/Public Utility
Commission-Rebates New Construction (decrease as more built)-Grants to Nonprofits to provide TA, training, modeling
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CA – High Energy Efficiency Standards
California’s Energy code- “Title 24” since 1974 Perspective: If CA not changed code in
1974, would need 1 nuclear plant every 8 miles between San Diego and San Francisco!
Per Capita Energy use in CA – lowest in US, level
SOLARA exceeded CA Title 24 by >42% (2001) SOLARA exceeded national IBC ASHRAE 2001
standards by 80%!
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SOLARA: Green, Sustainable, Smart Growth
Not Just photovoltaic electricity What 5 elements make a project “green”?
Energy Efficiency - Reduce energy demand by 60-70%, use renewable energy to supply balance of demand
Renewable(s) – Energy Supply Water Efficiency Recycled / Recyclable Materials Indoor Air Quality (IAQ)
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SOLARA Green Elements: Site
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SOLARA: Green, Sustainable, 360’• Smart Growth - location matters• Building Envelope, orientation on site • Maintenance Plans and Training Manuals• Prop Mgmt Staff Training• Resident Training and Buy In• Resident Services Program curriculum,
outreach and education (Enterprise $)• Public Art & Education
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Public Art
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What Do Developers Need? Successful examples Education and Technical Assistance – to
developers, public jurisdictions and depts
State & Local Agency Coordination and Support Utility Company commitment and attention -state
action helps; utilities heavily regulated
Funding for Capital Costs – Policy changes
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Policy Needs - Funding
State and Local Gov must support PV and Green - Rebates work best
Federal ITC – excellent, preserve Local Gov - Expedite permits and review
process Utility Companies – create incentive &
expedite programs Requires state by state policy changes
(federal Section 42 incentives?)
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SOLARA
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SOLARA Photovoltaic
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S O L A R A
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S O L A R A