Taking Note: Oak Creek Senior Villas - An Affordable Senior Rental Housing Project - - PowerPoint PPT Presentation

Loading...

PPT – Taking Note: Oak Creek Senior Villas - An Affordable Senior Rental Housing Project - PowerPoint presentation | free to download - id: 25bc9e-ZDMzO



Loading


The Adobe Flash plugin is needed to view this content

Get the plugin now

View by Category
About This Presentation
Title:

Taking Note: Oak Creek Senior Villas - An Affordable Senior Rental Housing Project -

Description:

Taking Note: Oak Creek Senior Villas An Affordable Senior Rental Housing Project – PowerPoint PPT presentation

Number of Views:51
Avg rating:3.0/5.0
Slides: 19
Provided by: LFH7
Learn more at: http://www.cityofcalabasas.com
Category:

less

Write a Comment
User Comments (0)
Transcript and Presenter's Notes

Title: Taking Note: Oak Creek Senior Villas - An Affordable Senior Rental Housing Project -


1
Taking NoteOak Creek Senior Villas- An
Affordable Senior Rental Housing Project -
  • Presented by
  • Douglas Tapking, Executive Director
  • Area Housing Authority of the County of Ventura
  • An independent, public non-profit Agency
    representing the cities of
  • Thousand Oaks, Moorpark, Camarillo, Simi Valley,
    Fillmore, Ojai and the unincorporated areas of
    the County of Ventura
  • 1400 W. Hillcrest Drive, Newbury Park, CA 91320
  • 805-480-9991

2
Oak Creek Senior Villas
The entrance marques illustrates that, with the
help of the Redevelopment Agency, projects like
Oak Creek can successfully utilize difficult to
access in-fill lots that are not desirable for
business development.
3
Oak Creek Senior Villas
  • A Unique Senior Development
  • Limited Development Opportunities
  • Significant Financial Issues
  • Opportunity to Create and Preserve Affordable
    Rental Housing for Future Seniors

4
Oak Creek Senior Villas
  • A three-story complex with elevators surrounding
    an interior open courtyard, consisting of
  • 46 one-bedroom units
  • average of 620 square feet.
  • 11 two-bedroom units
  • average of 894 square feet.
  • Built over a one-level, security-gated concrete
    indoor parking garage with 58 on-site spaces.
  • 2,500 square feet for community rooms (library,
    craft room, and multipurpose room)

5
Oak Creek Senior Villas
6
Oak Creek Senior Villas
Before any construction could begin, the
Redevelopment Agency had to complete the Arroyo
Conejo Channel improvements to mitigate the
impacts of this seasonal creek.
7
Oak Creek Senior Villas
8
Layers of Construction Financing
  • Construction Loan 6,225,000
  • Bridge Loan 77,169
  • Construction Loan Holdbacks 1,409,307
  • Thousand Oaks RDA Land Loan 1,200,000
  • Thousand Oaks RDA Gap Loan 150,000
  • HOME Funds 750,000
  • AHP Loan 228,000
  • SHS Equity (Simpson) 1,852,468
  • Total Construction Financing 11,891,944

9
Layers of Permanent Financing
  • Tax Credits 2,646,383
  • Permanent Financing 4,690,000
  • Developer Note 877,561
  • HOME Loan, City of Thousand Oaks 1,000,000
  • Thousand Oaks RDA Gap Loan 1,250,000
  • Thousand Oaks RDA Land Loan 1,200,000
  • AHP Loan 228,000
  • Total Permanent Financing 11,891,944

The Total Cost Per Unit is 208,631
10
Oak Creek Senior Villas
Just completed, Oak Creek Senior Villas gets
ready to welcome new residents.
11
Oak Creek Senior Villas
The community library, overlooking the wetlands
and oak groves, is furnished with comfortable
seating, big screen TV and game tables.
12
Oak Creek Senior Villas
Insert photo
The center courtyard, featuring a grand
staircase, provides opportunities for both day
and evening relaxation in the mild Mediterranean
climate.
13
Oak Creek Senior Villas
Along the sides of the building, pedestrian walk
ways are shaded by arbors and mature oak trees.
14
Oak Creek Senior Villas
The community dining room and kitchen host weekly
activities which encourage families to spend time
together.
15
Oak Creek Senior Villas
Residents enjoy sharing their family recipes and
each others company.
16
Oak Creek Senior Villas
The community kitchen keeps resident smiling with
features that include a gas stove, microwave,
extra-large refrigerators, dishwasher, disposal,
toaster oven, and tons of storage to makes it
easy to host monthly potlucks and spaghetti
dinners.
17
Oak Creek Senior Villas
The craft room provides ample storage and
accessible workspace for projects that are best
done in the company of friends.
18
Oak Creek Senior Villas
About PowerShow.com