$28.3-million affordable housing development opens in Fountain Valley
Partners in the creation of a new affordable housing community in Fountain Valley gathered Wednesday to celebrate the completion of a project that cost an estimated $28.3 million.
Prado, a Related California project, has become the first development in Fountain Valley dedicated entirely to affordable housing in nearly two decades.
The 50-unit complex is located on the eastern border of the city at 16790 Harbor Blvd. It was created for tenants who earn between 30% and 60% of the area’s median income, which, according to the U.S. Census, was $89,924 for the years 2016 through 2020.
Four residential buildings, as well as a community building, sit on the 1.95-acre site, which is situated near recreational opportunities. The new units are a stone’s throw away from the Santa Ana River trail, providing bicyclists access to the beach. Mile Square Park is also a few blocks to the west.
“The city of Fountain Valley is committed to the challenging task of providing opportunities for new affordable housing developments in our community,” Fountain Valley Mayor Patrick Harper said. “Developing any new housing in Fountain Valley is difficult due to the lack of vacant land and the high cost of available land. Building affordable housing is even more difficult and generally takes a collaboration of many sources in order to finance and construct a new development.
“Prado Family Homes is the exciting result of the dedicated partnership between Related California, the Foundation for Affordable Housing, the county of Orange and the city of Fountain Valley to bring much-needed affordable housing and support services to the residents of Fountain Valley.”
The groundbreaking for the project took place in November 2020, and the development drew widespread interest with more than 600 people expressing a desire to move into the complex, which has been fully leased out since the end of May.
“This city was tremendously cooperative,” Bill Witte, the chief executive of Related California, said. “They provided the financial support for us to acquire the site, which was privately owned, and then really streamlined the process. … The city really stepped up on this project. That’s what my big takeaway from today is.”
Prado is comprised of 23 one-bedroom, one-bath units (465 to 563 square feet), 14 two-bedroom, one-bath units (792 square feet), and 13 three-bedroom, two-bath units (1,090 square feet). The rent ranges from $640 to $1,450 for a one-bedroom apartment, $701 to $1,727 for a two-bedroom unit and $760 to $1,981 for a three-bedroom apartment.
The two- and three-bedroom apartments come with a patio on the first floor or a balcony on the upper levels. There is also open space with outdoor workout equipment, a children’s playground and a barbecue area.
“You have to treat this as high-quality, market-rate housing,” Witte said. “… It’s market-quality housing, but it’s limited occupancy by affordability. If you don’t think that way, you won’t be successful.
“I don’t want to overstate it. This isn’t like a luxury condo, but it’s a high-quality rental apartment complex with open space, amenities, services available for the residents.”
Fountain Valley city officials, including Harper and Mayor Pro Tem Kim Constantine, took a tour of the complex during the event. A couple of residents invited touring parties to view their homes.
Modern kitchens included electric stoves and quartz countertops with refrigerator units included. The apartments also have vinyl flooring, and there are some artworks hung in the hallway.
Jessica Rodriguez, 35, moved in with her family during the last week of March. She said they had been living in a two-bedroom apartment in Anaheim with her mother. The rent at their prior place was $3,100, she said. Now, Rodriguez and her mother both live at Prado, but in separate units.
“I don’t mind the area,” Rodriguez said. “I like it. It’s closer to the beach, closer to Mile Square Park.”
Eight of the 50 units have been purposed for housing veterans currently experiencing homelessness or at risk of doing so. Robert Hill, an Air Force veteran and a resident of the property, was among many who found that to be a fine thing.
“I served in the military because I know that helps other people,” Hill said. “We have to defend other people. I served in education for over 30 years because it helps people get to a better place. It helps people to be able to afford to live in Orange County. … This is a beautiful property. It’s modern. It’s clean. It smells good.”
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