Irvine, CA – Jamboree Housing Corporation, one of California’s largest active affordable housing developers, today announced the grand opening of Ceres Way in the City of Fontana, CA on Thursday, June 2, 2010 from 11:00 a.m. to 12:30 p.m. Program participants include Fontana Mayor Acquanetta Warren, City Councilmembers and Jamboree executives. Interview and photo opportunities plus property fact sheet and photos are available.
According to Laura Archuleta, Jamboree president, the 60-apartment community marks the sixth affordable community the company has developed in the city over the past several years, for a total of 226 Jamboree-built homes in Fontana over the last several years. Existing communities developed by Jamboree include Ceres I, Ceres Court, Hillcrest, Valencia Woods and Citrus Grove. Plus, discussions are under way for further development in future phases along Ceres Avenue.
“We place great value on our long-term partnership with the City of Fontana, without which we could not have developed these vital workforce housing communities that are now providing quality, affordable housing for the city’s working families,” Archuleta says. “When it comes to developing workforce housing, Fontana is one of the most active cities in California.”
“Ceres Way represent a true partnership between Jamboree and the Fontana Housing Authority,” says Acquanetta Warren, Mayor of Fontana. “We are thrilled to be opening another multifamily community together. This property continues the Housing Authority tradition of “raising the bar” for development and construction and will set the standard for future development in Central Fontana.”
Located at the intersection of Ceres and Oleander Avenues, and built on the site of an abandoned, bank-owned home and a trash-filled, weed infested vacant lot, the Ceres Way housing community brings further revitalization to an area previously known primarily for public safety concerns.
Through the combined efforts of the Fontana Housing Authority and Jamboree, a strong sense of community and high quality of life are now the standard for life along Ceres Avenue.
As with all Jamboree developments, special emphasis will be placed on activities and programs in a collaborative community and learning center. Through Housing with a HEART, Jamboree’s resident services group, residents of all ages will enjoy onsite programs and services tailored specifically to them. For children, there will be after-school tutoring and recreation programs, and adult family members will be able to participate in adult educational workshops. An onsite program coordinator assists residents in accessing local community services.
The goal of Housing with HEART is to create home environments for the company’s residents that foster resident involvement and focus on academic achievement for young people as well as community-building activities and health and fitness for families. An onsite program coordinator will assist residents in accessing local community services.
“Because this community is closely situated to two other Jamboree developments, residents at all three locations will benefit from economies of scale,” says Scott Darrell director of Jamboree’s Resident Services Group. “We will be able to coordinate among them to expand services, enabling residents from each community to participate. We’re doing more than building apartments. We’re building a neighborhood and strengthening a community.”
Ceres Way is built as a public/private partnership with the Fontana Housing Authority, which has invested $8.2 million in redevelopment funds in the $13-million project and is also leasing to Jamboree the 5.5-acre site that the Authority owns. U.S. Bank provided $7 million in construction financing and RBC Capital Markets is the tax credit partner who invested $3.6 million of low-income housing 4% tax credit bonds. California Community Reinvestment Corporation contributed $1.3 million in permanent financing.
Additionally, each of Jamboree’s communities in Fontana participates in the Crime Free Multi- Housing Program – a coalition of law enforcement, business owners/managers and residents committed to providing a safe living environment. Ceres Way will also be part of the program.
As a family-oriented community, Ceres Way is affordable to families whose household income is 50 percent of the area median income (AMI). The gated community includes a large community center with meeting rooms for its residents, a computer room, learning center and onsite management office as well as a pool, three tot lots, an outdoor fireplace and barbecue area, and a one-acre lawn that provides green space. In keeping with Jamboree’s commitment to sustainability, each home includes ENERGY STAR appliances and water-saving faucets and fixtures. The property exceeds Title 24 energy efficiency standards by approximately 15%. This lowers resident energy consumption, provides a cost-saving benefit to residents and promotes the health of residents, Archuleta notes.
KTGY Group, Inc. of Irvine is the community’s architect and Advent Companies of Mission Viejo is the general contractor.
About Jamboree: Founded in 1990, Irvine, CA-headquartered Jamboree Housing Corporation is an award-winning, broad-based nonprofit housing development company that develops, acquires, renovates and manages permanently affordable rental and ownership housing throughout California for working families, seniors and people with special needs. HOMES, Inc. and Housing with HEART are 501(c)(3) organizations and comprise Jamboree’s Resident Services Group. A leading nonprofit developer, Jamboree is committed to sustaining excellence with high quality affordable housing that is good for the environment, the economy and local communities. It currently has about $250 million in affordable housing projects in its development pipeline and a $1 billion asset portfolio that includes the development of and/or ownership interest in more than 6,700 homes in more than 64 California communities. Currently, Housing with HEART programs and services that foster learning, health and community building are offered at 38 Jamboree communities with designated staff at each location. For more information, go to www.jamboreehousing.com.