Affordable Honors

For Yardi clients

By Yardi Blog Staff on Sep 26, 2014 in News

Affordable Housing Finance’s readers chose their favorite projects from 34 finalists in nine categories based on innovation, community impact and creative problem solving, among other criteria.  Seven of the nine projects are from Yardi clients with diverse development specialties in green design, urban planning, senior housing, and mixed-use projects.

Preservation of Affordable Housing (POAH) was awarded the title of overall winner for its work on Grant at Woodlawn Park in Chicago (pictured, right). The 33-units serve low- and moderate-income families and are part of POAH’s Woodlawn neighborhood revitalization initiative. In addition to being voted the overall winner, Grant at Woodlawn Park was also selected as best master-planned/mixed-use project. The Boston-based nonprofit also is providing job placement services, financial counseling, and youth programs.

Mercy Housing is a national nonprofit organization that renovates existing housing and develops new affordable rental properties for low-income families, seniors and people with special needs.  Mercy Housing also builds strong foundations for its residents by providing programs such as health classes, financial literacy, employment resources, parenting and after-school programs for children.

Mercy Housing took awards in the categories for family, senior and preservation projects.  Mercy Housing California developed Caroline Severance Manor, located in the Mid-Wilshire/Koreatown neighborhood in the City of Los Angeles. The five-parcel property contains 85 units of intergenerational affordable housing with one-, two-, three- and four-bedroom apartment homes.

In Chicago’s Pullman community, Mercy Housing Lakefront preserved a historic factory and transformed it into 210 affordable units known as Pullman Wheelworks.  And in Half Moon Bay, Mercy Housing California helped bring seniors closer to critical services with the development of Coastside Senior Housing. Below its 40 affordable units, the property’s ground floor houses an adult day health center and a senior center with meal program.

Satellite Affordable Housing Associates (SAHA) is a Bay Area-based nonprofit serving more than 3,000 residents in seven northern California counties.  SAHA focuses on preserving the dignity of its residents with the belief that every person deserves a home.  The organization is committed to high-quality design with ongoing supportive services to empower residents and promote safer communities.

SAHA was recognized for green and urban housing with Valley Oaks Homes in Sonoma and The Savoy in Oakland, respectively. Valley Oaks Homes, a 43 unit complex, is providing housing for many families who work in wine country who cannot afford to live there.  The development is on track to receive LEED Platinum certification.  SAHA renovated two dilapidated hotels in downtown Oakland into a single building that now houses 101 studio apartments for the formerly homeless and very low-income individuals.

The Skid Row Housing Trust was honored in the category for their special needs housing project, Star Apartments.  A unique 102-unit development, Star Apartments serves chronically homeless men and women. It’s one of the first housing projects to partner with the Housing for Health Division of the Los Angeles County Department of Health Services.  According to 2^nd District Supervisor Mark Ridley-Thomas’ office, the division will open an on-sight clinic to “reduce the number of unnecessary emergency room visits and inpatient admissions for tenants who are housed in the Star apartments.”

The Trust provides permanent housing solutions for those who have experienced homelessness, prolonged poverty, disabilities and those who have suffered from mental illness and/or addiction. The Trust services the Skid Row area of downtown Los Angeles, also known as Central City East. The organization was founded as a result of collaboration between community activists and business leaders’ response to the need for more affordable, permanent housing in Skid Row.

The winners will be honored at a ceremony at AHF Live: The 2014 Affordable Housing Developers Summit, which will be held Nov. 19-21 at the Fairmont Millennium Park in Chicago. They also will be featured in the November/December issue of Affordable Housing Finance.