South Street Family Apartments – Affordable Apartment Community for Workforce Families Breaks Ground

Multi-Housing News

March 25, 2015

San Luis Obispo, Calif.—Ground has been broken for new, sustainable apartment homes for workforce families in the city of San Luis Obispo, Calif.

ROEM Corporation, in partnership with HASLO (Housing Authority of San Luis Obispo) celebrated South Street Family Apartments at the groundbreaking ceremony on March 19 at 309 South Street.

Designed by the national award-winning architecture and planning firm KTGY Group, Inc., South Street Family Apartments will offer 43 affordable apartment homes, including one manager’s unit, and will be available to families with annual incomes at or below 60 percent of the San Luis Obispo County Area Median Income (AMI). The property will feature one-, two- and three-bedroom rental homes with unit sizes ranging from about 570 square feet to 1,010 square feet.
South-Street-Apartments-street-scene_wide“HASLO is very pleased to be part of this very complex public-private partnership that addresses the Central Coast’s workforce housing need,” Scott Smith, executive director of HASLO, said.The result is a permanent affordable housing resource available to the San Luis Obispo community. The affordability and location close to jobs are ideal. Reduced job commutes will enhance quality of life, and affordable rents will enable family investment in other essentials like education, healthcare and quality childcare. We look forward to seeing hundreds of lives flourish at the South Street Apartments community.”

Situated on a 1.53-acre urban infill site in downtown San Luis Obispo, the $14.1 million development will offer a viable community for residents while boosting the existing neighborhood. The building’s modern mix of urban-industrial and craftsman-style architectures will counterpart the South Street corridor location, close to downtown. Property amenities will include a community room with a kitchen, laundry facility, homework center, a courtyard area with a barbecue, outdoor playground and bike storage room for residents.

“The City of San Luis Obispo is proud to be a supportive partner in this much needed 100% affordable housing development. We recognize the significant shortage of affordable housing in our community and look forward to the completion and addition of these apartments to our housing inventory,” said City Councilman Dan Carpenter, who was on the City Council when the development was approved in 2011. “Many families will benefit from this joint venture between ROEM and HASLO, and we look forward to future collaborative efforts that will contribute to our ongoing housing goals. Congratulations to all.”

South Street Family Apartments will be built using supportable building methods and include numerous green features to ensure its long-term energy-efficiency and sustainability. Complying with CALGreen Building Codes, South Street Family Apartments will seek USGBC’s LEED-H Gold certification by: installing Solar Thermal and Photovoltaic Systems; using water through water efficient irrigation systems and drought-tolerant landscaping; installing water-saving flow restrictors and high efficiency fixtures; utilizing natural ventilation; low VOC paints and sealants and CRI Green-label low-VOC carpeting, pads and adhesives; and installing Energy Star appliances and very high-energy efficient fixtures and fittings.

The property is financed with nine percent Low-Income Housing Tax Credits with financial assistance from the City of San Luis Obispo, Citi Community Capital, and AEGON Group. The architect of the project is KTGY Group Inc. and the general contractor ROEM Builders, Inc. Construction is approximated to take about 15 months with completion in spring 2016.

“This marks AEGON’s eighth investment with ROEM Development and we are confident South Street Family Apartments will be as tremendously successful as the previous seven,” said Gary Howe, director of AEGON USA Realty Advisors. “San Luis Obispo is already a desirable community for residents and visitors; South Street Family Apartments will help to keep it accessible to those struggling to find housing in an extremely competitive market.”

“Our goal is to reshape public perception of affordable housing,” said KTGY Principal Keith Labus, AIA, LEED AP. “ROEM is known for their high quality affordable communities and South Street Family Apartments will be a tremendous asset to the City of San Luis Obispo.”