The city broke ground on “The View” Housing Project on Thursday afternoon. The building will be located at 8314 2nd St.
The View is a six-story modern architecture building developed to incorporate the best elements of open-space, natural light, innovative landscaping and a rooftop garden with a view of Downtown Downey. The building will have 50 units, 35 two bedroom and 15 three bedroom, ranging from 795 to 1002 square feet. The amenities will include a commuity room on the first floor, a rooftop garden and a private patio for each unit. Rent will range from $532 – $911 for a two bedroom and $610 – $1049 for a three bedroom, depending on the household income.
The total project cost of $20 million dollars was multi-funded by, City of Downey Community Development Commission Housing Fund, City of Downey HOME, HACoLA City Industry Fund, Federal Low Income Housing Tax Credits 9%, JP Morgan Chase.
This will be the first residential building built in the Downtown area. In mid 2008 the Downtown Redevelopment Agency purchased the site, along with the Avenue Theater on Downey Ave. for the porpoises of creating mixed-use development in the Downtown area. In mid 2009 the Redevelopment Agency sent out requests for proposals to redevelop the two sites. The city received a total of six creative proposals. After a lengthy evaluation the city selected, National Community Renaissance (National CORE) as the developer for both sites. Due to budgetary restraints the city elected to have the View project done first because it would have the most beneficial impact to the Downtown.
Mayor Guerra said, “This is the big piece of the puzzle, you are seeing the revitalization of our Downtown from the Arts to new businesses.” There are fourteen new restaurants coming to within one mile of Downtown area. Guerra continued, A residential area is not an end-all to a successful Downtown, but all successful Downtown’s have a residential component.”
Andrea Avila, representing Los Angeles County Supervisor Don Knabe said, “For the city of Downey to have the vision, their staff and City Council to bring a project like this to fruition is just amazing. Especially in these challenging times when a lot of other cities and Downtowns are saying we can’t do it.” Avila continued, “Downey is the perfect example of, just because things are difficult, it doesn’t mean that they are impossible.”
National CORE, Director, James D. Cashion said, “This really plays into the specific plan within Downtown Downey. One of the key components of our assistance included energy efficiency. So not only do you have a structure in place that will keep rents affordable, but through energy efficiency measures will also keep energy bills low.”
Construction will take an estimated two years with a planned opening early 2015.
Attending the ceremony from the city were,
Mayor Dn. Mario Guerra
Mayor Pro Tem, Fernando Vasquez
Councilman, Roger Brossmer
Councilman, Alex Saab
City Manager, Gilbert Livas
Assistant City manager John Oskoui
Community Development Director, Brian Saeki
City Clerk, Adriana Jimenez
Director of Parks and Recreation, Arlene Salazar
Fire Chief, Lonnie Croom
Human Resources Director, Erma Youssefieh
City Attorney, Yvette M. Abich Garcia
Assistant to the City Manager, Shannon DeLong
Housing Manager, Ed Velasco
Los Angeles Executive Director for the Community Developement, Shaun Goguen
Representing Supervisor Don Knabe, Andrea Avila
National CORE, COO, Tracy Thomas
National CORE, CFO, Richard J. Whittingham
National CORE, Construction Manager, Chris Killian
National CORE, Director, James D. Cashion