07 November 2017

Grand Opening Today > El Rancho Del Sol

FOR IMMEDIATE RELEASE
Community Development Partners Opens El Rancho Del Sol
Setting High Standards Well-Designed Attainable Affordable Housing 
Mesa, AZ November 7, 2017. Today Community Development Partners celebrated the Grand Opening with a ribbon-cutting ceremony at 659 and 701 East Main Street followed by a Community Street Party and property tours afterwards.
More about CDP > http://communitydevpartners.com/news/
El Rancho Del Sol was last featured on this blog site with some more information that readers can access with this link . More posts and photographs on here + social Media.
The program began with an introduction by Eric Paine, CEO Community Development Partners, followed by brief comments from Mesa Mayor John Giles, Carol Ditmore, Director of Arizona Department of Housing and Local First Arizona/Fuerza Local Deputy Director Tom Barr.
[Read more about CDP CEO Eric Paine in a follow-up right after this post]
The two buildings on Main Street are attainable, inclusive and affordable housing with 47 units serving workforce families and households earning 40-60% of the Average Medium Income. The project that was designed and planned to inspire creative living with 26 two-bedroom units, 11 three-bedroom units, and 10 four-bed units.
As a complimentary to El Rancho Del Arte, both are designed from the get-go to enhance the lives of residents and the community by incorporating into  the well-designed architectural environment on-site services for the families living here, as well as an indoor exercise room and business center, with a media learning lab for everyone.
>A New Leaf if providing resident support services
> Local First Arizona will provide an on-site micro enterprise accelerator
> The Cultural Coalition will continue to provide an ongoing arts-based programming both for children and adults, as well as after school programs
> We Cycle and Garden Pool are also operating ground level spaces offering unique services
The project is expecting to achieve LEED Platinum certification when solar installations are finished on the rooftops, after an unexpected delay.
Marty Moran and Christian Hume were up on the roof yesterday going over some last-minute details for rooftop gardening areas and for an outdoor recreation and barbecue area. Nice view!
Designed by Perlman Architects and built by Ryan Construction Company, extensive and highly visible-to-inspire public art components by local and internationally-recognized artist Zarco Guerrero are utilized up-and-down on the interior stairways and entryways to both buildings.
Both properties of El Rancho Phase I and El Rancho Phase II are manger by Celtic Property Management. Both are 100% occupied with waiting lists for attainable/affordable housing here in Mesa.
The project was partially financed by the sale of 9% LIHTC awarded by the Arizona Department of Housing. The tax credit investor is Alliant Capital.
A construction and permanent loan from Chase Bank, HOME and Housing Trust Funds from ADOH, a HOME loan from the City Of Mesa, and a acquisition/pre-development loan from Local Initiatives Support Corporation (LISC) financed the remaining project costs.
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AFFORDABLE HOUSING FINANCE
AHF Showcases Industry’s Rising Stars
Six individuals 40 and younger named 2017 Young Leaders.
  

NEWS ABOUT COMMUNITY DEVELOPMENT PARTNERS
Communities
CDP has experienced tremendous success since launching in 2012 including the tax credit allocation on eleven LIHTC projects including new construction, renovation, 4% LIHTC with TEB, and 9% LIHTC projects in 4 states totaling over $175 million in development costs. CDP has experience navigating complex capital structures including a multitude of public funding sources.  Currently, CDP is focused on projects for 2017 4% and 9% submittal rounds.  CDP is also continuing to pursue new acquisitions in Western states. 

 
News
Eric Paine Named One of American Housing Finance’s 2017 Young Leaders – AHF 2017-08-29
Community Development Partners Set For Move-Ins @ El Rancho Del Sol – MesaZona 2017-06-12
Seems just like yesterday there was a new shovel-ready dig on ground here in The New Urban Downtown Mesa for Phase 2 of El Rancho del Arte. The groundbreaking ceremony took place on October 17, 2016 at 659 E Main Street. The keynote speaker was Arizona Department of Housing Director Michael Trailor, along with Kimber […]
Community Development Partners Aims to Reach 1,000-Unit Portfolio in 2017 – AHF 2017-04-11
CDP Climbs the 2016 AHF Top 50 Affordable Housing Developers List – AHF 2017-04-11
Nearly 1,500 affordable housing units on the horizon in Santa Ana – The OC Register 2017-04-13
Innovative Veterans Development Breaks Ground – AHF 2017-04-07
Ground Broken for Veterans Housing in Vacaville – The Reporter 2017-04-07
Innovative Rocky Hill Veterans Development Breaks Ground – AHF 2017-04-07
AFFORDABLE HOUSING FINANCE Innovative Veterans Development Breaks Ground Shipping containers will be used to provide 39 affordable homes in Vacaville, Calif. By Donna Kimura Rocky Hill Veterans Housing will be one of the most unique developments built this year. The 39-unit community is utilizing modified shipping containers in its design to deliver new affordable housing […]
Price tag of homelessness in Orange County is nearly $300 million, UCI study finds 2017-03-16
Orange County would save $42 million a year in health care, law enforcement and other expenses by placing people who chronically live on the streets into housing, according to a first-ever countywide study of the costs of homelessness. The study, conducted by UC Irvine researchers and released in summary form Tuesday, aimed to pinpoint how […]
CDP Expands West Coast Portfolio – Multi-Housing News 2017-03-10
CDP Expands West Coast Portfolio by Adina Marcut Las Vegas Portland MAR 10 2017 The company plans to renovate unit interiors and building systems. Las Vegas and Portland, Ore.— Community Development Partners (CDP) is closing three new affordable, multifamily properties: Baltimore Gardens and Cleveland Gardens in Las Vegas and Viking Village in Salem, Ore. Baltimore […]
 

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