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REAL ESTATE INDUSTRY NEWS
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Irvine's Jamboree Housing moves forward on affordable apartment project

Firm partners with Garden Grove officials to revamp Grove Park complex.

By Kristen SchottPublished: May 10, 2010 12:18 PM

Irvine-based Jamboree Housing Corp. is moving forward with plans for an affordable apartment project in Garden Grove.

The nonprofit developer is partnering with the city and the Garden Grove Housing Authority on the acquisition and rehabilitation of the 104-unit Grove Park complex, which is located within the Buena Clinton neighborhood.

The project, which will cost about $24 million, is part of a decades-long redevelopment of the neighborhood that seeks to lower the area's crime rates and provide greater stability.

The Grove Park renovation is expected to support these efforts by raising the standard of living among residents, boosting the quality of the development and preserving the affordability of the property. The company plans to provide work-force housing to families who earn between 30 and 60 percent of the area's median income of $93,000. In other words, a family of four earning $46,500, which is 50 percent of the median, will pay about $1,141 per month for a three-bedroom space.

In addition, the project will generate 42 local jobs and $1.1 million in taxes and other revenue for local government during construction.

External renovations will include stucco repairs, new landscaping and irrigation system upgrades. Interior additions include new plumbing fixtures, counter tops and appliances in the kitchens, as well as updated light figures, air conditioning service and smoke detectors. The project will also incorporate green features such as environmentally friendly natural linoleum in all kitchens and bathrooms, and ceilings and floors will be sealed with laminates or low-VOC primer or sealant.

The renovation is expected to be completed in early 2011.

A kickoff celebration will be held at 4:30 p.m. on Tuesday at the complex, which is located at 12602 Morningside Ave.

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