Bakersfield, California 2021-07-21 21:15:00 –
A $ 17.5 million apartment complex in northeastern Bakersfield will soon complete providing 80 units of one, two, or three bedrooms to veterans and others with less than median income in the region. I will.
East Hills housing is being developed by the Kern County Housing Corporation on the south side of Bernard Street, west of Oswell Street, primarily using funds from a variety of sources, including state tax credits.
The project, which will accept its first tenant in September, landed in the midst of a very tight housing market, with single-family home prices and rents record highs across Bakersfield.
Construction began a year ago on the grounds of a former private school. Heather Kimmel, Deputy Secretary-General of the Housing Corporation, said the property was chosen because it was partitioned for multi-family homes, had amenities nearby, and was for sale by the previous owner. .. The agency reported paying it $ 910,000.
The eastern half of the property is reserved for future development of housing for first-time buyers.
“We know that Kern County lacks affordable housing and local vacancy rates are around 1%,” Kimmel said in an email. “Furthermore, according to a recent report, there have been zero rental vacancies in eastern Bakersfield in the last two quarters. New home production is a long-term need for our community.”
The Housing Corporation and its affiliated nonprofits report that they have developed 275 new, affordable housing units over the last three years. With the exception of East Hills Residences, 178 additional units are under construction, with an additional 154 units awaiting funding before construction begins.
Apartment residences are reserved for people with incomes of 30% to 60% or less of the median income of the area. Half of the units are reserved for veterans and their families. Three-quarters of all tenants have to pay the full rent. For the rest of the quarter, you will receive subsidized rent that requires you to pay only 30% of your income to your home.
Rent for a one-bedroom unit ranges from $ 336 to $ 672 per month. Two bedrooms cost $ 403 to $ 800 per month, and three bedroom units cost $ 465 to $ 900.
The project’s construction loan was provided by Bank of America, which provided $ 14.8 million in capital through the sale of tax credits allocated by the California Tax Credit Allocation Commission. Financial support was also provided in the form of permanent loans from the California Housing Community Development Authority, Bakersfield City, California Community Reinvestment Corporation and Housing Corporation.
Kimmel wrote that initially several neighbors expressed concern about the size of the project and wanted to know how the project was managed and how access to the site was handled. The Housing Corporation has convened a public meeting to address their concerns.
“We believe we were able to address all their concerns and are excited to be part of their neighborhood,” she said.
Homeowner Timothy Perkins said he has lived in Sherry Lane, just south of development, for 42 years. He acknowledged the need for a residential city on Wednesday and said the new apartment wouldn’t bother him.
Neighbor Luis Torres took a different view. Worried about the traffic impact of the apartment-he still doesn’t know where new residents will enter and exit the property-he says the property doesn’t seem to be big enough to accommodate all the proposals there. Said.
Torres said his wife didn’t care about the project at all. He’s not very critical, but “because who knows who will come and live there,” he’s nervous about who will eventually move.
Neighbor Rachel Perez was even more skeptical. She said she was worried about privacy, traffic, and who her new neighbor would be, as her granddaughter and nephew use the backyard pool.
“Now we need to install a security camera,” she said. “I will have to put a new light there.”
The Housing Corporation is still accepting applications from potential tenants. Kimmel directed the applicant to the agency’s online portal. www.kernha.org.. Alternatively, the application can be processed directly by calling Renee Richardson at 661-631-8500, ext. 2307.
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