June 29- Combined Developments Total 309-Units, and a $187.5M Investment in Affordable Housing
FOR IMMEDIATE RELEASE
Media Contact: Myrna Marston, MPR+Strategic Communications
619-733-9291/myrna@marstonmpr.com
Chelsea Investment Corporation, Serving Seniors, Southern California Housing Collaborative, California State Treasurer Fiona Ma, San Diego County Board of Supervisors Chair Nora Vargas, San Diego Mayor Todd Gloria, and Councilmember Jennifer Campbell Join in Celebrating the Groundbreaking for Three Affordable Housing Developments in San Diego’s Clairemont Community
Combined Developments Total 309-Units, and a $187.5M Investment in Affordable Housing
San Diego, CA – June 29, 2023: Carlsbad-based Chelsea Investment Corporation (Chelsea), Serving Seniors, and Southern California Housing Collaborative executives were joined by California State Treasurer Fiona Ma, County Board of Supervisors Chairwoman Nora Vargas, San Diego Mayor Todd Gloria, and City Councilmember Dr. Jennifer Campbell to celebrate the groundbreaking of three affordable housing developments: Messina Senior Apartments, a 79-unit development; Taormina Family Apartments, a 136-unit development, including 34 units set aside for individuals with intellectual or developmental disabilities; and, Modica Family Apartments, a 94-unit development, including 24 units set aside for individuals with intellectual or developmental disabilities. All three affordable housing developments will be 5-story buildings. The County-owned site was awarded to Chelsea through an RFP process.
Chelsea Investment Corporation is the developer for all three affordable housing projects. Chelsea has delivered over 7,600 affordable housing units in 77 communities in San Diego County at a total capitalization in excess of $3.0 billion.
“Having these affordable housing developments come to fruition is no small feat. We are tremendously thankful to the State of California for tax credit funding through Treasurer Ma’s leadership; and to the County of San Diego for having the vision to lease the land and provide soft financing, proving to be a leader in affordable housing solutions,” said Charles Schmid, Chief Executive Officer of Chelsea. “Additionally, without the commitment of San Diego Mayor Todd Gloria, the City Council and the San Diego Housing Commission to fulfill the City’s promise to deliver affordable housing units by providing soft financing and simplifying and accelerating the permitting process, these critical housing developments could not be breaking ground.”
“California is known as the place of golden opportunity; however, the unaffordability of housing creates barriers between our residents and their dreams,” said Treasurer Fiona Ma. “I am proud of the work we are doing with CTCAC and CDLAC, removing these barriers and opening the doors of opportunity for Californians as they achieve a level of economic stability that was once out of reach.”
All three affordable housing developments are purposefully multi-generational communities where families and seniors can interact, providing a higher quality of life. The residents of the three communities will also enjoy the central, walkable location with many nearby amenities including a large grocery store, a multitude of restaurants, small business retailers, medical facilities, schools, and parks. Additionally, Balboa Avenue and Genesee Avenue are major transit corridors served by several transit lines, including two rapid bus routes and access to the Blue Line Trolley.
“No one level of government can do it alone and through these public-private partnerships we can make significant progress in providing accessible housing options for the most vulnerable,” said Nora Vargas, Chairwoman of the San Diego County Board of Supervisors. “These types of investments are part of our County’s comprehensive approach to ensure our families, children, veterans, and seniors have a roof over their heads.”
“This project is one of the first to be expedited under the executive order I signed earlier this year to speed up production of affordable housing,” said Mayor Todd Gloria. “These three affordable housing developments will provide a beautiful community for seniors and families and a wonderful place to call home. We owe a debt of gratitude to the state, the county, and our team at the City for collaborating with Chelsea Investment Corporation to address our affordable housing crisis in such a meaningful way.”
Senate President pro Tempore Toni G. Atkins (District 39) said, “The development of affordable housing is one of the most pressing needs of our region and state. The home community at the Mt. Etna Campus is a model project that will provide affordable housing for low to moderate income seniors, families, and individuals with developmental disabilities. Working with respected community partners, Serving Seniors and the Southern California Housing Collaborative, the development will provide vital supportive services to vulnerable populations in their homes, while also being ideally located near transit corridors and within walking distance to grocery stores, schools, and parks. Congratulations to Chelsea Investment Corporation and all of those involved in the planning and development process for making this project a reality.”
Serving Seniors will provide a robust program of integrated supportive services including service coordination, one-on-one case management, behavioral health services, health education, fitness and wellness classes and planned social activities. All supportive services to residents of the three communities are free of charge.
“San Diego County needs more senior centers, just as it needs more affordable housing for people of all ages and backgrounds. According to the Surgeon General, social connections can buffer health problems which are especially harmful in older people,” said Paul Downey, CEO of Serving Seniors. “Our new senior center in Clairemont will lean into this challenge. Serving Seniors sees the positive results from our programs at our original downtown center daily. We’re eager to bring the same programs and services to a new community.”
San Diego Regional Center will provide tailored services for the 58 total units set aside in the Modica and Taormina Family Apartments for individuals with intellectual or developmental disabilities (IDD). The IDD units will include roll-in showers, grab bars, reversible shower seats, vinyl corner guards and other features specific to the needs of this population. Each San Diego Regional Center client will be provided with a specialized, individual plan that will cater to their specific needs, including advocacy for services, transportation, supported living services, professional training, and supported employment.
“It brings our team great pride to witness how supportive services for these special clients bring a higher quality of life and helps them better connect with the overall community,” said Mark Klaus, Executive Director of SDRC.
The Senior development is expected to be completed in the Fall of 2024 and will include a Senior Center that is open to the public. The Family developments are expected to be completed in the Spring of 2026. Below is a breakdown of unit mix, project team, and financing sources by development:
MESSINA SENIOR APARTMENTS
Unit Mix:
79 Total units
5 Studio units
73 1-Bedroom units
1 2-Bedroom unit
Project Team:
AGP – Chelsea Investment Corporation
MGP –Serving Seniors
Service Provider – Serving Seniors
General Contractor –Emmerson Construction, Inc.
Architect – The McKinley Associates, Inc.
Landscape Architect – GMP Landscape Architecture
Civil Engineer – Fuscoe Engineering, Inc.
Financing Sources:
County of San Diego – Land Acquisition Value Contribution
San Diego Housing Commission – Capital Funding
San Diego Housing Commission – 8 Project Based Vouchers
County of San Diego – American Rescue Plan Act (ARPA)
State of California TCAC 9% Tax Credits
$42.9M Total Development Cost
TAORMINA FAMILY APARTMENTS
Unit Mix:
136 Total units
63 1-Bedroom units
38 2-Bedroom units
35 3-Bedroom units
Project Team:
AGP – Chelsea Investment Corporation
MGP – Southern California Housing Collaboration
Service provider – Serving Seniors
General contractor – Emmerson Construction, Inc.
Architect – The McKinley Associates, Inc.
Landscape Architect – GMP Landscape Architecture
Civil Engineer – Fuscoe Engineering, Inc.
Financing Sources:
County of San Diego – Land Acquisition Value Contribution
County of San Diego – Innovative Housing Trust Fund (IHTF)
County of San Diego – American Rescue Plan Act (ARPA)
Department of Development Services – CRDP
San Diego Housing Commission – 8 Project Based Vouchers
California – 4% Tax Credits
$85.1M Total Development Cost
MODICA FAMILY APARTMENTS
Unit Mix:
94 Total units
42 1-Bedroom units
27 2-Bedroom units
25 3-Bedroom units
Project Team:
AGP – Chelsea Investment Corporation
MGP – Southern California Housing Collaboration
Service provider – Serving Seniors
General contractor – Emmerson Construction, Inc.
Architect – The McKinley Associates, Inc.
Landscape architect – GMP Landscape Architecture
Civil Engineer – Fuscoe Engineering, Inc.
Financing Sources:
County of San Diego – Land Acquisition Value Contribution
San Diego Housing Commission – Capital Funding
Department of Developmental Services – CRDP
California 4% Tax Credits
$59.5M Total Development Cost
About Chelsea Investment Corporation
Since 1984, Chelsea has invested over $3 billion to develop over 15,000 units of affordable housing for populations including low-income seniors and families, farmworkers, individuals at risk for homelessness, and homeless veterans. Chelsea Investment Corporation was named by Affordable Housing Finance Magazine as the top California-based affordable housing developer in 2021. Chelsea’s expertise includes urban infill, mixed-use, suburban inclusionary, renovation, and rural properties. The company is the first in California to deliver affordable apartments set aside for households with a family member who has a developmental disability, such as autism, epilepsy, Down syndrome, or cerebral palsy. Chelsea is a fully integrated affordable housing developer and offers turnkey finance, development, general contracting, and property/asset management services. For more information visit: Chelsea Investment Corporation (chelseainvestco.com)
About Serving Seniors
Founded in 1970, Serving Seniors is a 501(c)(3) nonprofit organization based in San Diego, California, dedicated to serving low-income adults who are 60 of age and over. A leader in senior advocacy and programming, Serving Seniors has created an innovative model of comprehensive services including nutritious meals, permanent and transitional housing, health and social services, and lifelong learning opportunities to hundreds of seniors in need. It is the largest provider of meals to seniors in the county, and one of the only organizations in the nation providing a robust range of services to vulnerable, at-risk older adults, tailored to meet the individualized needs of each client. For more information visit: https://servingseniors.org/
About San Diego Regional Center
The San Diego Regional Center (SDRC) is one of 21 regional centers throughout California that provide support and services to persons with developmental disabilities. It is a valuable resource for residents of San Diego and Imperial counties who have intellectual disabilities, cerebral palsy, epilepsy, autism, or other disabling conditions requiring similar treatment. The goal of SDRC is to enhance the quality of individuals’ daily living experiences by offering activities that are meaningful to them, based on each person’s unique needs. Its services are intended to maximize their independence, full potential, and quality of life. For more information visit: https://www.sdrc.org/
