Public/private partnership revitalizes low-income community
Monarch Pointe, an affordable, garden-style apartment housing community built in 2008, was constructed as part of the revitalization of the Central Anaheim Neighborhood as a result of a strong partnership between Jamboree, the City of Anaheim and investors. Monarch Pointe exemplifies Jamboree’s philosophy of working in conjunction with local communities to fulfill their housing needs through design, finance and construction of high quality housing that is affordable for lower-income community members not served by the existing market.
Fueled by the City of Anaheim’s commitment to develop 1,200 affordable housing units in five years and Jamboree’s ability to secure highly sought-after 9% tax credits, Monarch Pointe went from concept to groundbreaking in less than one year – a process that can often take two to three years – and from groundbreaking to grand opening in 16 months. At the time, Anaheim was the only city in California to take advantage of funding from CA SB-211, a bill that expands redevelopment areas by adding 10 years in tax increment revenue, as long as the tax increase from 20% to 30% is allocated to affordable housing for low- and very low-income families.
Monarch Pointe is part of the City of Anaheim’s 2006 Affordable Housing Strategic Plan, and was one of 17 properties the City of Anaheim purchased from the Orange County Transportation Authority, as part of its 2006 Affordable Housing Strategic Plan. High-quality affordable housing such as Monarch Point helps Orange County to successfully maintain its middle class.
Monarch Pointe incorporates the creative use of land and the same high quality finishes and materials as market-rate communities. Homes are equipped with energy-efficient plumbing and ENERGY STAR appliances. The buildings are built around a central courtyard with greenbelts and a saline swimming pool. A playground provides a fun outdoor activity for children. Jamboree’s Community Impact Group offers onsite services to residents.
Monarch Pointe is located in a Southern California community with excellent employment and educational opportunities, is near three bus lines and is only a seven-minute commute to downtown Anaheim.