Ivy II at College Park – BRIDGE Adds 200 Units to CA Affordable Housing
Multi-Housing News
February 9, 2018
BRIDGE Housing, local authorities and other entities have opened Ivy II at College Park, the second phase of a 335-unit affordable housing project in Chino, Calif. KTGY Architecture + Planning designed the $41.6 million project, while Cannon Constructors South Inc. was the general contractor.
Located at 6100 Notre Dame Ave., the property sits on a 9-acre site within the 200-acre College Park master plan area, adjacent to the Chaffey College Chino Campus. Designed to be GreenPoint Rated Gold, the new community borders Ivy’s first phase and will house 200 families that earn 50 to 60 percent of the area’s median income, which is approximately $38,700. There also are eight units with project-based Section 8 subsidies. According to Yardi Matrix data, the first 135 units of the community came online in 2013, and included 10 buildings. Amenities at the property include:
- fitness center
- playground
- swimming pool
- community room
- business center
MULTIPLE INVESTORS
The City of Chino, Bank of America, National Affordable Housing Trust, J.P. Morgan, PGIM Real Estate Finance, Freddie Mac, California Tax Credit Allocation Committee, California Debt Limit Allocation Committee and Housing Authority of the County of San Bernardino provided financing for the project.
“Investing more than $33 million with long-time partner BRIDGE Housing to create this next phase of Ivy at College is a great opportunity to help drive sustainable economic growth, with affordable family living that is walkable and set amongst parks and green space, along with attracting visitors to new restaurants and shops,” said Bank of America Inland Empire Market President Al Arguello, in prepared remarks.
Bridge Housing is also bringing more affordable housing units to the Bay Area. Last year, the company completed the first phase of a mixed-use affordable development in San Leandro. Calif.
