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3/19/15
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ROEM Corporation and HASLO (Housing Authority of San Luis Obispo) have just broken ground on South Street Family Apartments, a sustainable apartment community for workforce families in the city of San Luis Obispo. The project is located at 309 South St, just east of the 101 Fwy off Madonna Rd in San Luis Obispo.
Designed by 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% of the San Luis Obispo County Area Median Income (AMI). South Street Family Apartments will feature one-, two- and three-bedroom rental homes with unit sizes ranging from approximately 570 sf to 1k sf.
Located on a 1.53-acre urban infill site in downtown San Luis Obispo, the $14.1 mil development will provide a sustainable community for its residents while enhancing the existing neighborhood. The building’s contemporary mix of urban-industrial and craftsman-style architectures will complement the South Street corridor location, not far from downtown. Amenities will include a community room with a kitchen, a laundry facility, a homework center, a courtyard area with a barbecue, an outdoor playground, and bike storage room for residents.
South Street Family Apartments will be constructed using sustainable building methods and will incorporate a number of ‘green’ features designed to ensure its long-term energy-efficiency and sustainability. Along with complying with CALGreen Building Codes, South Street Family Apartments will pursue USGBC's LEED-H Gold certification, by incorporating the following:
• Installing Solar Thermal and Photovoltaic Systems
• Appropriately 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.
South Street Family Apartments is financed with 9% Low-Income Housing Tax Credits with financial support from the City of San Luis Obispo, Citi Community Capital, and AEGON Group. The general contractor ROEM Builders Inc. Construction duration is tentatively set for 15 months with an estimated completion scheduled for spring 2016.
The project has received financial support from a variety of sources. The Housing Authority of San Luis Obispo has provided $1 mil in project funds. The City and the County of San Luis Obispo have provided a combined total of $1.29 mil in federal funds from the Department of Housing and Urban Development. Construction financing will come primarily from Citibank. Permanent financing will be supported by tax credit financing and loans from Citibank.
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