san diegodocs.sandiego.gov/councilcomm_agendas_attach/2013/luh_130327_5.pdfrk bl market st st...
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Columbia Tower
9th & Broadway
CCBA Senior Garden
Lincoln Hotel
7th & Market
13th & Market
Horton House
Market St Square
Ten Fifty B
Heritage ApartmentsHeritage Apartments
Monarch School
Cedar Gateway
Atmosphere Site
13th & Broadway
Park & Market Block
LIND / Villa Maria
GSA Child Care Center
Popular Market
Marina
East Village
Little Italy
Columbia
Cortez
Convention Center
Civic/Core
Horton/Gaslamp
0 1,200600 Feet I
Legend
Assets with Existing Low-Mod Income Housing
Assets to be retained for Future Affordable Housing
Assets to be sold for Future Mixed-use projects with Affordable Housing Component
Neighborhood
Date: 3/5/2013
Map of Housing Assets - Downtown
ATTACHMENT A
§¦I-805
§¦15
MARKET
OCEAN VIEW
IMPERIAL
EUCLID
§¦I-805
Mount Hope
Southcrest
Central Imperial
GatewayCenterWest
EUCLID
OCEAN VIEW
DIVISION
32ND
MARKET
WABASH
NATIONAL
PALM
DELTA PARADISE VALLEY
AKINS
VESTA
MER
LIN
43R
D
Hilltop Site
6395-97 Imperial
40th & Alpha40th & Alpha
Ouchi Site
0 1,400 2,800 4,200 5,600700 Feet
Map of Housing Assets - SoutheasternLegend
Assets to be retained Future Affordable Housing
Merged Project Area
Date: 3/5/2013
J
Attachment B - List of City-Owned Properties with Existing Affordable Housing Projects
Housing Type
Item # NameFormer Project
Area (Year Completion)
Lot siz e
(SF)
# of Total
Units
# of
Affordable
Units
Address APN Date Term Document Recording Date Expiration Date
1 9th & BroadwayCentre City
(East Village)
Underconstruction w/
executed DDA and Ground
Lease. Anticipated
completion in spring 2015.
25,000 250 248901 E Broadway, 917
Ninth Ave / 92101
534-331-01, 534-
331-158/8/11 70 yrs
AARP,
Amendment to
AARP
8/9/2011,
6/20/2012
55 yrs from
Conversion
2 CCBA Senior HousingCentre City
(Marina)
Existing affordable housing
(2000) 12,578 45 45
438 Third Ave, 92101
535-074-12-00 9/29/97
55 yrs from
Occupancy Date
(2055)
AARP 9/30/1997 9/29/2052
3 Cedar GatewayCentre City
(Cortez)
Existing affordable housing
(2012) 19,800 65 65 1612 Sixth Ave, 92101 533-382-07 3/23/10 70 yrs AARP 3/25/2010
55 yrs from
Release of
Construction
Covenants
4 Columbia TowerCentre City
(Columbia)
Existing affordable housing
(1984) 29,516 150 148
904 State St., 92101 533-538-03,04 7/13/82 7/13/2037
Lease
Agreement8/25/82 7/31/2037
5 Heritage ApartmentsCentre City
(Cortez)
Existing mixed-income
housing (2002) 121,951 230 38
750 Beech St, 855 Beech
St, 1471 Eighth Ave,
92101
534-013-31,534-
041-01,066/9/99
55 yrs from
Occupancy Date
(2057)
AARP 6/9/1999 6/9/2054
6 Horton HouseCentre City
(Marina)
Existing affordable housing
(1979) 30,424 153 150 333 G Street, 92101 535-096-16 3/4/80 3/31/2030 Ground Lease 3/4/1980 3/31/2030
7 Lincoln HotelCentre City
(Gaslamp)
Existing affordable housing
(SRO) (1995) 3,224 40 40 536 Fifth Ave, 92101 535-082-12 12/1/96 7/21/2051 AARP 11/20/1996 7/22/2051
8 Ten Fifty BCentre City
(East Village)
Existing affordable housing
(2010) 21,800 229 226 1050 B St, 92101
534-064-10, 11,
12, 138/15/11 8/15/2076 AARP 1/20/2009 8/15/2066
9 Villa Maria (LIND A -1)Centre City
(Little Italy)
Existing affordable housing
(1999) 26,851 37 36 1536 India St, 92101 533-327-21 5/4/98
55 yrs from
Occupancy Date
(2054)
AARP5/13/1998,
8/31/20015/4/2053
Affordability CovenantsGround Lease Units
ATTACHMENT B
PROPERTIES TO BE SOLD FOR FUTURE MIXED-INCOME DEVELOPMENTS:
x Market Street Square
x 7th & Market
x Park & Market
x GSA
x Popular Market
ATTACHMENT C
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PROPERTIES TO BE SOLD FOR FUTURE MIXED-INCOME DEVELOPMENTS:
x Market Street Square
x 7th & Market
x Park & Market
x GSA
x Popular Market
ATTACHMENT C
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PROPERTIES TO BE RETAINED FOR FUTURE AFFORDABLE HOUSINGDEVELOPMENTS:
x Fourth and Beech
x 13th & Market
x Monarch School
x 13th & Broadway
x Hilltop & Euclid
x Ouchi Site
x 6395-97 Imperial
x 40th & Alpha
ATTACHMENT C
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Ouchi Site5003 Imperial and 5030 Holly Dr., 92113Southeastern San Diego (Central Imperial)
Site SummaryAPN: 548-242-30Lot Size: 50,529 SFAcquisition Dates: 3/24/2008Acquisition Costs: $2,100,000Funding Source: Central Imperial 2007 Bonds:$690,000 - SEDC Low/Mod Bond Funds, $1,410,000– SEDC Non-Low/Mod Bond FundsExisting Use(s): Vacant lot + 2 vacant existing
structuresZoning: RM-2-6, Residential with some commercial
allowedDensity/FAR: RM-2-6 allows 1 du/1,250 sf lot and
35 du/ac, Max FAR 1.5, max units 40.Proposed Uses: Mixed-income housing% Affordable/AMI: Min. 25%, TBDType: TBDSupportive Housing: TBDEstimated Subsidy: $720k (80k/unit) for 9 units
Site Descriptions
Background: The former RDA acquired the site in2008, partially funded by the Low/Mod Funds.Prior to the acquisition, the former RDA hadentered into an ENA with a developer, andcontinued negotiation for a DDA after the Agencyacquisition of the Site. However, the ENA expired in2008 without entering into a formal developmentagreement. The site was planned for a mixed-usedevelopment with an affordable housingcomponent in the Central Imperial Five-yearImplementation Plan and Central Imperial 2007BBond documents. Public improvements forcomplete street standards are underway, whichwould add curbs, gutters, sidewalks, utilityundergrounding and street trees on Holly Drive,adjacent to the property.
Environmental Issues: Phase I (2008) concludedthere is low likelihood that any recognizedenvironmental conditions are present at the site.The existing vacant buildings were surveyed in2008 and identified asbestos and lead based paintremoval and/or containment remediation measuresthat will need to be implemented prior todemolition. ROPS III (227) includes $600,000 fordemolition and remediation costs. The site isincluded in 2009 Program EIR.Relocation Issues: No relocation issues, site andbuildings are vacant.
Proposed Plan
The site is proposed for mixed-income housing(minimum 25% affordable). It is located within 1/4mile from Euclid Trolley stop. The Imperial AvenueCorridor Master Plan recommends pedestrian-oriented uses with medium density residentialdevelopments with some ground-floor commercialspaces along the Imperial Ave. transit corridorlocated within 1/4 mile of the Euclid Trolley stop. Atotal of 35 residential units are estimated to bedeveloped on the site, of which 9 units areaffordable. The actual number of units will bedetermined after selection of a development teamand negotiation of a DDA.
6395-97 Imperial6395 & 6397 Imperial Ave., 92114
Southeastern San Diego (Central Imperial)
Site SummaryProperty Plan: Retained by City for futureaffordable housing developmentAPN: 549-140-16Lot Size: 7,431 SFAcquisition Dates: 8/19/2008Acquisition Costs: $565,000Funding Source: SEDC Non-Low/Mod FundsExisting Use(s): Vacant lot + 2 vacant existing
structuresZoning: Residential with some commercial RM-2-4Density/FAR: 1 du/1,750 sf lot and 25/du/ac, max
3.4 unitsProposed Uses: Low-mod housing% Affordable/AMI: 100%, TBDType: TBDSupportive Housing: TBDEstimated Subsidy: $400k (100k/unit) for 4 units
Site Descriptions
Background: The 7,400 square-foot-lot, located inthe mid-block south of Imperial Avenue between63rd and 65th streets, was acquired by former RDAin 2008 with non-Low/Mod Funds. The site wasidentified in the Imperial Avenue Corridor MasterPlan for mixed-use commercial and housing, as wellas in the Central Imperial Five Year ImplementationPlan for residential development with affordablehousing. Site is a narrow, shallow, interior lot withalley access on a commercial corridor. Former RDAentered into ENA with a developer for a mixed-usedevelopment with mixed-income housing.However, ENA expired in 2006 without enteringinto DDA. Environmental Issues:Phase I (2008) concluded that with the possibleexception of burn ash and/or metal bearing fillmaterial, there is a low likelihood that a recognizedenvironmental conditions are present at the site asa result of the current or historical Site land use orfrom a known and reported off- site source. Due to the age of the structures, hazardous buildingmaterials surveys should be performed to identifyany needed remediation measures beforedemolition of existing aging structures. Site wasincluded in the Central Imperial 2009 Program EIR . Relocation Issues: The site is vacant. No relocationissues.
Proposed Plan
Based on the zoning requirements, four units areestimated to be developed on the site. It isproposed that RFP be issued in FY14 to solicitproposals for a 100% affordable housingdevelopment with a minimum of four residentialunits. There is a possibility for developing the sitein combination with adjacent vacant and/orunderutilized lots. The actual number of units willbe determined after selection of a developmentteam and negotiation of a DDA.
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3/18/13
Attachment D:
City of San Diego Housing Asset Fund Cash-Flow Projection FY 2013-FY 2017
REVENUES
Low Mod Bond Proceeds by Project Areas FY 2013 FY 2014 FY 2015 FY 2016 FY 2017 TOTAL
North Park 2,579,855$ 2,579,855$
Southeastern San Diego 1,407,175$ 1,407,175$
North Bay 1,846,453$ 1,846,453$
City Heights 3,541,503$ 3,541,503$
Centre City 16,559,849$ 16,559,849$
Horton Plaza 276,817$ 276,817$
NTC 2,959,466$ 2,959,466$
Crossroads 3,700,000$ 3,700,000$
Subtotal - Low Mod Bond Proceeds 32,871,119$ 32,871,119$
Loan/Lease Payments/Program Income FY 2013 FY 2014 FY 2015 FY 2016 FY 2017 TOTAL
Loan Repayments/Ground Lease Payments 449,770 $ 492,401 $ 535,032 $ 620,294 $ 748,187 $ 2,845,684$
Rental/Other Income 1,437,032 $ 958,794 $ 269,010 $ 30,000 $ 30,000 $ 2,724,836$
Property Management Cost (45,000) $ (45,000) $ (45,000) $ (45,000) $ (45,000) $ (225,000)$
Reserve (188,680) $ (154,061) $ (119,168) $ (85,313) $ (98,102) $ (645,324)$
Cost Savings 850,000 $ - $ - $ - $ - $ 850,000$
Subtotal - Loan/Lease Pmts/Program Income 2,503,122 $ 1,252,134 $ 639,874 $ 519,981 $ 635,085 $ 5,550,196$
Projected Land Disposition Proceeds FY 2013 FY 2014 FY 2015 FY 2016 FY 2017 TOTAL
-$
1.Market St. Square 6,000,000$ 6,000,000$ 192 40 21%
2.7th&Market 8,273,550$ 8,273,550$ 542 82 15%
3.Park&Market 6,503,750$ 6,503,750$ 512 77 15%
4.GSA Child Care Center Site 3,363,125$ 3,363,125$ - 29 -
5.Popular Market 1,593,920$ 1,593,920$ 195 30 15%
6. 13th&Market (Market-rate portion - 20,000 SF)1 700,000$ 700,000$ 180 27 15% # of units was calculated based on the estimated buildable SF of the site
7. Existing Hotel Metro site (if SA buy it from SDHC)2
1,122,968$ 1,122,968$ - - -
Subtotal - Projected Land Disposition Proceed s - $ 21,477,300 $ 1,593,920 $ 3,363,125$ 1,122,968$ 27,557,313$ 285
Civic SD Fees (4% of gross sales price) 859,092 $ 63,756.80 $ 134,525$ 44,918.72$ 1,102,293$
Net Sales Proceeds 20,618,208 $ 1,530,163 $ 3,228,600$ 1,078,049$ 26,455,020$
1 After deducting $800,000 for acquisition of the one remaining parcel
2 The estimated sales proceeds less estimated demolition costs ($250,000) and purchase price from SDHC ($627,032)
FY 2013 FY 2014 FY 2015 FY 2016 FY 2017 TOTAL
TOTAL FUNDS AVAILABLE 35,374,241 $ 21,870,342 $ 2,170,037 $ 3,748,581 $ 1,713,134 $ 64,876,335$
# of units was calculated based on the estimated buildable SF of the site
# of units was calculated based on the estimated buildable SF of the site
Only a portion of the site (5,000 SF) to house a stand-alone affordable housing project
# of units was calculated based on the estimated buildable SF of the site
City to enter into Option Agmt w/ SDHC, Replace existing Hotel Metro units at 13th&Market site
Estimated New Housing Units
Total
units Aff Units % Affordable
Assumptions
Existing rental housing. 40 units were restricted under SA Ground Lease until 2011.
3/18/13
EXPENDITURES
Admin/Operating Costs FY 2013 FY 2014 FY 2015 FY 2016 FY 2017 Total
Housing and Homeless Administration 275,000 $ 550,000$ 550,000 $ 550,000 $ 550,000 $ 2,475,000$
Legal/Consultant Costs (DDA/OPA) 200,000$ 200,000 $ 200,000 $ - 600,000$
Homeless Consultants 100,000$ 100,000 $ 100,000 $ 300,000$
TOTAL - Admin. Costs 275,000 $ 850,000$ 850,000 $ 850,000 $ 550,000 $ 3,375,000 $ 5.20%
Available Funds for New Development 35,099,241 $ 21,020,342$ 1,320,037 $ 2,898,581 $ 1,163,134 $ 61,501,335$
Homeless/ At
risk Units Supp. Hsg.
Units
% Supp.
Hsg
1.Atmosphere 12,207,069 $ 12,207,069 $ 205 202 41 41 20% Based on the current proforma w/Infill Fund only (no TOD) w/5% contingency
2.13 th&Market (Affordable component-Hotel Metro) 17,160,000 $ 17,160,000 $ 195 193 193 29 15% Assuming $80,000/unit for 195 units w/10% contingency
3 . Hilltop & Euclid 2,000,000 $ 2,000,000 $ 100 25 0 0 0% Assuming $80,000/unit for 25 units, 25% Affordable
4. Ouchi Site 720,000 $ 720,000 $ 35 9 0 0 0% Assuming $80,000/unit for 9 units, 25% affordable
5. 63 95-97 Imperial 400,000 $ 400,000 $ 4 4 0 0 0% Assuming $100,000/unit for 4 units, 100% affordable
6. 40th & Alpha 480,000 $ 480,000 $ 6 6 0 0 0% Assuming $80,000/unit for 6 units, 100% affordable
7. Monarch Site (on Cedar) 7,500,000 $ 7,500,000 $ 50 49 7 7 15% Assuming $150,000/unit for 50 units, 100% affordable
8. Churchill 3,000,000 $ 3,000,000 $ 60 60 60 9 15% Estimate by SDHC
9. Veterans Village Phase V 1,800,000 $ 1,800,000 $ 20 20 20 0 0% 20 transitional housing beds for homeless veterans
10. NOFA for City-wide Projects w/ Homeless Housing 8,000,000 $ 7,071,132 $ 15,071,132 $ 188 188 75 28 15% Estimated subsidy per unit - $80,000 per unit, Estimate 40% homeless units
Set aside for City Heights (City Heights Bond Proceeds) 3 ,541,503$
11. 13 th&Broadway (w/EV Fire Station) -$ Not feasible until $ for Fire Station is secured. Not likely to proceed within 5 y ears
TOTAL - New Projects 12,207,069 $ 31,060,000 $ 8,000,000 $ 9,071,132 $ - $ 60,338,201 $ 863 756 396 115
CUMULATIVE BALANCE 22,892,172 $ 12,852,514 $ 6,172,551 $ - $ 1,163,134$
TOTAL AFFORDABLE UNITS 1,041
Total
Total
UnitsTotal Aff. Units
Homeless Housing
Assumptions
Proposed Expenditures for New Projects
FY 2013 FY 2014 FY 2015 FY 2016 FY 2017