First Community Housing
1st & Gish Street, San Jose, CA
First Community Housing, a nonprofit affordable housing developer, used our loan to investigate a former gas station adjacent to the Gish Street light rail station in San Jose. The gas station was demolished several years ago and the parcel sat vacant. First Community Housing used the loan to perform environmental due diligence and construction is now underway on this transit-oriented, mixed-use development.
This project will change a vacant lot from an unsafe eyesore into 35 dwelling units of desperately needed multifamily affordable housing for families earning 50% or less of area median income as well as neighborhood retail.
“As a non-profit housing developer building infill, workforce housing on impacted urban sites, the Cal ReUSE loan program was an indispensable part of our financing. Our pre-development funds could not have covered the costs that the Cal ReUSE program did—and the CCLR staff was very professional and great to work with”
Jeff Oberdorfer
Executive Director
First Community Housing
South County Housing Corporation
Gilroy Cannery, Gilroy, CA
The former Gilroy Cannery is a 12-acre site adjacent to the City's downtown commercial district. The Cannery operated from 1917 to 1997 and was the town's major economic driver. South County Housing Corporation, a nonprofit affordable housing developer, was interested in redeveloping the site, but was concerned about the potential contamination on the property. That's when South County contacted CCLR. We encouraged them to apply for our forgivable loan program, which provided them with a "free look" at the site.
The Cannery will be redeveloped from a former industrial use to a vibrant mixed-use, mixed-income venture that will provide new housing, office, and retail space, as well as stimulate and reinforce the ongoing investment in Gilroy's downtown.
"CCLR's loan program functioned exactly as it should have, by giving our organization the confidence to proceed with a venture that we might have otherwise passed on. The loan provided a low-risk source of money to do the due diligence that we needed to satisfy ourselves that we could take on this difficult project."
Nancy Moore Wright
South County Housing Corporation
Citizens Housing Corporation
18th & Alabama, San Francisco, CA
Nonprofit housing developer, Citizens Housing Corporation, used our loan to investigate a property in San Francisco’s Mission District neighborhood that was most recently used as a truck re-fueling facility but had been the site of a former metal foundry. This vibrant neighborhood is predominantly working-class and historically populated by immigrants from Mexico and Central America.
In keeping with the diverse mix of uses in this neighborhood, Citizens is developing a mixed-use project that will include affordable family and senior rental units, for-sale family units, and commercial spaces for light industry and retail.
When complete, the 151 units will provide low-income San Franciscans with much needed rental units at prices they can afford, offer home-ownership opportunities to first-time home-buyers, and make available light industrial space for small neighborhood enterprises.
“Funding from CCLR’s forgivable loan program allowed Citizens Housing to acquire the site quickly, mitigate the environmental issues in a timely way, and move forward with this major mixed-use project.”
James M. Buckley
President
Citizens Housing Corporation
Urban Pacific Builders
1835, 1897, 1899 Orizaba Avenue, Signal Hill, CA
The former Beach City Chevrolet in Signal Hill ran a successful business for 50 years until the dealership was forced to close due to flagging car sales. The site sat vacant until infill developer, Urban Pacific Builders saw an opportunity to build much needed moderately priced housing.
After conducting their initial environmental investigation, Urban Pacific discovered – along with the usual suspects associated with auto sites (underground fuel and waste oil tanks) – that the site had previously been part of an oil and gas production operation. The initial report revealed the existence of several oil wells that had been abandoned under older regulations. That’s when Scott Choppin, President of Urban Pacific called CCLR.
Fearing the project was now “upside-down” – an expression used when the cost of the environmental cleanup is higher than the value of the property – and a close date looming, we were able to provide Urban Pacific with a loan for the next phase of investigation to determine if the project was still viable.
With our funds, Urban Pacific was able to define and estimate the cost of the environmental cleanup and re-work the proforma for the property. Construction is underway on this development, which includes an 81-unit condo complex of two- and three-story buildings with ocean and city views.
“This program is an excellent tool for developers that provide housing in the urban environment. Given the critical need to recycle brownfield sites, the program provided much needed funds early in the development process that allowed Urban Pacific to go the distance when it came to the site assessment and clean up operations.”
Scott K. Choppin
Chief Executive Officer
Urban Pacific Group, Inc.
Dewey-KOAR
The Dewey Group of Newport Beach just acquired a former landfill after using Cal ReUSE funds to complete their environmental due diligence. The Dewey Group has received a No Further Action letter from the lead environmental agency, and is pursuing redevelopment and expansion of an existing industrial complex. The project is aligned with L.A. County’s goal to stimulate industrial job growth in the region.
“Cal ReUSE is a unique source of brownfield funding and CCLR was outstanding to work with! They are the “go-to” source for brownfield technical and financial assistance.”
– John Dewey, CEO, The Dewey Group
