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City of Irvine Housing Program

June 5, 2015

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Housing Overview

• City of Irvine Housing Strategy & Implementation Plan– Adopted in 2007– Established Vision Statement:

• By the year 2025, The City of Irvine will have a full spectrum of housing types to meet the shelter needs of all income groups and special needs populations in all stages of life.

– Goal of establishing 10 percent of all housing as affordable– Create nonprofit Irvine Community Land Trust

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City Housing Policies

• Address housing opportunities for all residents.

• Aspire to permanent affordability and disbursement of homes throughout City.

• Encourage housing for extremely low-income households and persons.

• Provide financial and non-financial opportunities.

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Includes Priorities

• Facilitate development of additional rental housing.

• Create equity-building opportunities for first-time homebuyers by facilitating the renter-to-owner transition process and increasing the amount of for-sale affordable housing.

• Partner with Irvine’s colleges and universities to create additional faculty and student housing.

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Includes Priorities cont.

• Develop housing for special needs groups (including, but not limited to, youth, seniors, single parents, developmentally disabled, SROs, supportive/transitional housing, veterans and mobile home parks).

• Preserve existing affordable housing.

• Reduce frequency and duration of homelessness.

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Affordable Housing is hard to do;How is the City Succeeding?

• The City works with the private development community to provide affordable housing through loan programs and development incentives.

• In exchange, developers agree to set aside units that will be affordable for at least 55 years.

• These programs and incentives have been very successful and many people would be surprised to know:– today there are over 3,300 affordable homes scattered

throughout the City– We have hundreds of new units planned and/or under

construction

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How does Affordable housing add to the Livability of a city?

• Affordable housing gives residents the chance to live within the community where they can stay close to family and work.

• Reducing time on the road gives residents the opportunity to do more with their family and also with the community through participation in various organizations.

• Young people starting out can move into affordable rental units, older residents who are downsizing and looking for affordable rental opportunities can stay close family and friends.

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Irvine’s Affordable Housing is Placed in Vibrant Neighborhoods. What is our Strategy?

• The City requires homes to be scattered throughout neighborhoods as well as within individual projects.

• The City also encourages a variety of housing to meet the needs of:– families, – single people, – the disabled and seniors.

• Each affordable home is required to be built to the same high quality standard of a market rate home.

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Inclusionary Housing Ordinance

• Applies to new housing construction

– Total of 15 percent must be affordable

– Addresses three income groups:

• Very low (50 percent of area median income)

• Lower (80 percent of area median income)

• Moderate (120 percent of area median income)

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Density Bonus

• City Ordinance also implements state Density Bonus law:

– Developers must provide percentage of units as affordable

– Law requires minimum 55 years of affordability

– In exchange developers get increased market rate units

– May also qualify for incentives

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Who Qualifies for Affordable Housing?

Income Category 1 Person 2 People 3 People 4 People

Extremely Low (30%) 20,250 23,150 26,050 28,900

Very Low (50%) 33,750 38,550 43,350 48,150

Lower (80%) 53,950 61,650 69,350 77,050

Median (100%) 61,050 69,750 78,500 87,200

Moderate (120%) 73,250 83,700 94,200 104,650

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2015 Very Low-Income Affordable Rent

Bedrooms Gross Monthly Rental Payment

   

1 bedroom $ 871.88

2 bedroom $ 981.25

3 bedroom $ 1,090.00

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2015 Low-Income Affordable Rent

Bedrooms Gross Monthly Rental Payment

   

1 bedroom $ 1,046.25

2 bedroom $ 1,177.50

3 bedroom $ 1,308.00

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2015 Moderate-Income Affordable Rent

Bedrooms Gross Monthly Rental Payment

   

1 bedroom $ 1,918.13

2 bedroom $ 2,158.75

3 bedroom $ 2,398.00

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Where is affordable housing?

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Revised 2/26/2015

IRVINE NOTABLE DEVELOPMENTP e n d i n g , A p p r o v e d o r U n d e r C o n s t r u c t i o n

W i n t e r 2 0 1 4 / 2 0 1 5

E n t i t l e m e n t P l a nU n d e r C o n s t r u c t i o n

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2

3

22

4

32

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O r c h a r d H i l l s372 dwelling unitsremaining entitlement 2,992 units1

A l e g r e A ff o r d a b l e A p a r t m e n t s104 dwelling units (Irvine Community Land Trust)

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1 7 0 0 0 M i l l i k a n156 dwelling units5

17275 Derian Apts80 dwelling units6

M e t r o p o l i s C o n d o m i n i u m s457 dwelling units

9E d w a r d s L i f e S c i e n c e s36,000 s.f. R&D Facility1

0 H y a t t H o u s e149 room hotel1

12525 Main272 dwelling units13

E l e m e n t s1,600 dwelling units14

360 Fusion280 dwelling units15

H i l t o n G a r d e n I n n170 room hotel16

C e n t r a l Pa r k We s t40 dwelling unitsremaining entitlement 597 units

17Pa r k P l a c e176 room hotel520 dwelling units, remaining entitlement 267 units

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Pistoia Apts371 dwelling units7

2501 Alton344 dwelling units8

2 8 5 1 A l t o n 170 dwelling units3

2 8 0 1 K e l v i n381 dwelling units4

I R W D B i o - S o l i d Fa c i l i t y19C a m p u s R e s i d e n t i a l876 dwelling units20

Main-Jamboree388 dwelling units22

Milani Apts287 dwelling units21

Tides Hospitality Hotel164 room hotel

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E a s t w o o dgrading

remaining entitlement 1,900 units25

C y p r e s s V i l l a g e468 dwelling units

remaining entitlement 997 units

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26Great Park Neighborhoods

358 dwelling units (Pavilion Park)

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P o r t o l a S p r i n g s231 dwelling units

remaining entitlement 2,141 units24

S t o n e g a t e62 dwelling units

remaining entitlement 557 units

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Av e l l a A p t s485 dwelling units

O C G r e a t Pa r kALA II Plan 688 Acres 32

L o s O l i v o s115,000 s.f. retail

remaining entitlement 1,900 units 35

S p e c t r u m R e s i d e n t i a l766 dwelling units

remaining entitlement 584 units34

H i d d e n C a n y o n6 dwelling units

remaining entitlement 252 units40

Concordia Universitycampus improvements 39

IRVINE NOTABLE DEVELOPMENTP e n d i n g , A p p r o v e d o r U n d e r C o n s t r u c t i o n

W i n t e r 2 0 1 4 / 2 0 1 5

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15

16

21

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3435

2 0 0 S p e c t r u m C e n t e r D r450,000 s.f. office 36

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Shady Creek Medical Center

157,000 s.f. office

3839

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29

7

17

19

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PA 4 0 E a s t A p t s536 dwelling units 31

I r v i n e G a t e w ay434 dwelling units1

2

31

12

13

18

20

30

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remaining entitlement 8,540 units

3.31m s.f. non-residential

4 0 0 S p e c t r u m C e n t e r D r450,000 s.f. office 37

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B r o a d c o m C a m p u s1.1 m s.f. office

remaining entitlement .9 m s.f. office33

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New Projects

• Alegre Apartments (3100 Visions Street)– 104 affordable units (100%)

• Alton & Millikan (16931 Millikan Avenue)– 17 affordable units (Inclusionary)

• Avalon Jamboree Phase III (16952 Millikan Avenue)– 17 affordable units (Inclusionary)

• C&C Development (17275 Derian)– 80 affordable units (100%)

• Elements (2525 Campus)– 70 affordable units (Inclusionary)

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New Projects cont.

• Kelvin & Jamboree Partners (2801 Kelvin)– 38 affordable units (Inclusionary)

• Metropolis (2500 Main Street)– 47 affordable units (Inclusionary)

• Modera Irvine (2850 Kelvin Avenue)– 20 affordable units (Inclusionary)

• Solaira Senior Apartments (Ridge Valley/Irvine Blvd)– 221 affordable senior (100%)

• 360 Fusion (17321 Murphy Avenue)– 29 affordable units (Inclusionary)

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Questions