News
USA Properties, Riverside Charitable Corp. Start Construction of 166-Unit The Orion Affordable Seniors Housing Project in Orange, California
July 29, 2024
USA Properties Fund and Riverside Charitable Corp. have started construction of The Orion, an affordable seniors housing community in Orange.
Located at 1800 E. La Veta Ave., The Orion will offer 166 affordable one- and two-bedroom apartments with energy-efficient appliances, lighting insulations and windows, as well as low-flow faucets, shower and toilets. Additionally, some apartments will include a balcony.
Community amenities will include a clubroom, dog park, fitness center, computer workstations, a community garden with some elevated planters, a courtyard and shaded patio, and secured parking. Residents will also have access to LifeSTEPS, a social-services provider.
The Orion will be available to seniors age 55 years and older who earn 30 percent to 70 percent of the area median income for Orange County. USA Properties Fund will manage the community.
The City of Orange, County of Orange and Orange County Housing Finance Trust provided financial support for the $64 million project. The California Tax Credit Allocation Committee awarded bond funding for the development. Bank of America offered construction and tax credit equity financing, while Citibank served as the permanent lender.
$4 Million in State Funding for OCHFT AFFordable ADU Loan Program
November 22, 2023
The Orange County Housing Finance Trust (OCHFT) was the only Orange County organization to receive state funding dedicated to “innovative housing finance projects” in the region.
OCHFT’s four million dollars ($4 million) in funding came through the Southern California Association of Governments (SCAG) as part of the Lasting Affordability Program. While the other funding awards for capital projects within the Southern California area were given to large multifamily housing developments, SCAG recognized Orange County’s unique approach to adding additional housing stock by encouraging housing construction through affordable accessory dwelling units (ADUs).
“The Affordable ADU Loan Program expands the benefits that the Orange County Housing Finance Trust offers to address the affordable housing crisis facing the region. This program is an opportunity for individual homeowners to increase their economic security while also providing very attractive financing that will help provide an affordable housing option for a local resident,” said Trust Manager, Adam Eliason.
Orange County Housing Finance Trust Initiates Affordable ADU Loan Program
October 24, 2023
The Orange County Housing Finance Trust (OCHFT) launched a subsidized construction-to-permanent loan specifically for Orange County homeowners building Accessory Dwelling Units (ADU). The program will provide eligible homeowners a loan of up to $100,000 to complete construction for rental ADUs for very low-income tenants. These 20-year loans are partially forgivable, deferred, and low-interest as long as the homeowner rents their ADU to income-qualified tenants for the first 10 of the 20 years.
“ADUs serve as a creative approach to increasing our housing supply here in Orange County,” said newly appointed OCHFT Chairperson Katrina Foley. “The OC Housing Finance Trust ADU loan program is a smart investment to quickly bring affordable housing options online for Orange County residents.”
Relaying her own experience with building an ADU, Chair Foley said, “When my 76-year-old mother and 96-year-old grandmother were widowed within the same year, our family struggled to find them housing they could afford on fixed incomes in Orange County. We built an ADU and now my mom and grandma have their own independent living, while still maintaining closeness to our family.”
“I encourage homeowners who are planning to build an ADU to utilize this funding resource and join the interest list starting today.”
The OCHFT ADU Loan Program is made possible by a $4 million CalOptima grant received by the Trust. Eligible homeowners must build the ADU on their primary residence in a Trust member jurisdiction. Qualified tenants include family members who are income-eligible. Participating homeowners can also qualify for one of a limited number of mobility-accessibility fully-forgivable loan of $5000 with a qualified ADU.
Learn more about the affordable ADU loan program and join the interest list at www.ochft.org/affordable-adu-loan-program
Stephen Faessel: Providing housing is key to solving the homelessness crisis in Orange County
June 27, 2023
As I finish up my year as chair of the Orange County Housing Finance Trust, I have some lessons learned to share.
Homelessness is one of the most pressing issues facing communities not only in Orange County but throughout the state. There is no “one-size-fits-all” solution to the homeless crisis, but most experts agree that providing permanent housing with supportive services is a critical foundation for adding back stability and health to the lives of those experiencing homelessness.
There are a multitude of reasons why a person is homeless.
What we know from a UCI study is that 22% of people experiencing homelessness report substance abuse issues were a factor in their homelessness and 17% cited mental health issues as a factor. Most Orange County residents who are at risk of or are physically homeless simply can’t afford the high cost of Orange County housing any longer. In either case, the gold-standard solution is housing with supportive services, which provides the resources and care required to recover from and prevent future homelessness.
Paseo Adelanto Groundbreaking
South County Leaders Celebrate Future Affordable Housing Site in San Juan Capistrano
March 8, 2023
More than 40 affordable housing units will eventually be built near the old San Juan Capistrano City Hall on Paseo Adelanto—a development South Orange County officials expressed excitement about during a groundbreaking ceremony on Wednesday, March 8.
Jamboree Housing Corporation, a nonprofit housing developer, is partnering with the City of San Juan Capistrano to build the affordable housing complex, which will have 49 affordable housing units and one additional unit for an on-site manager.
The project will also incorporate a new City Hall facility on the same grounds. The housing is intended for veterans, low-income families, and formerly homeless people. The old City Hall building, considered “temporary” for decades, is being demolished.
OCHFT Receives $3 million in Federal Funding
December 29, 2022
The Orange County Housing Finance Trust (OCHFT) was awarded $3 million in federal funding last week to finance the development of affordable housing including the kind of housing that helps individuals and families with a variety of services to help them get on their feet again and be more self-sufficient. U.S. Representative Lou Correa (CA-46) was the driver of the funding request that will provide our most vulnerable neighbors with both the housing and the supportive services they need to not only survive but thrive.
"I am so proud to have brought home these federal tax dollars to deliver the resources that the Orange County Housing Finance Trust needs, and provide the financial stewardship necessary, to build quality, affordable housing units and provide needed services to our community’s most vulnerable,” said Representative Correa. “This investment in the Orange County Housing Finance Trust will assist countless of those who’ve been historically left behind.”
Westview House Groundbreaking
November 2, 2022
OC Housing Finance Trust Awarded $3.75 million
October 14, 2022
On October 11, 2022, the California Department of Housing and Community Development (HCD) announced that the Trust has been awarded a Local Housing Trust Fund (LHTF) amount of $3,756,424. This funding is only for projects located in cities that had, at the time of application, an adopted Housing Element determined by the HCD to be in compliance with state Housing Element law. Only Irvine and Yorba Linda had adopted Housing Elements found in compliance with state Housing Element Law as of May 25, 2022. While neither Irvine nor Yorba Linda were members of the Trust at the time of the LHTF application, HCD considered all cities in Orange County with a compliant Housing Element.
Coincidentally, Irvine joined the Trust on the same day the funding was announced from HCD. Yorba Linda City Council is scheduled to consider joining the Trust at their November 15, 2022 meeting.
Irvine Joins OC Housing Finance Trust
October 14, 2022
The City of Irvine is the latest city to join the Orange County Housing Finance Trust. On October 11, 2022, the Irvine City Council unanimously approved the resolution to become the 25th city to join the Trust. The Trust now represents over 85% of the population in Orange County and the Trust is hopeful that the remaining nine cities will join soon. This regional collaboration strengthens the Trusts ability to obtain new government funding from a variety of sources.
ACC-OC was instrumental in helping form the Trust in 2019. Local staff and elected officials joined in the effort and Assemblymember Tom Daly championed the passage of Assembly Bill 448 that approved the formation of the Trust.
The Trust’s mission is to strengthen communities in Orange County by financing the development of affordable housing. Since 2019, the Trust has secured $36 million in funding, and awarded funding to 16 projects totaling 1,089 affordable and permanent supportive housing units.
Orange County Housing Finance Trust Awarded $5 million from State
January 10, 2022
State Local Housing Trust Fund Award will help fund 434 new affordable and permanent supportive homes in Orange County
The Orange County Housing Finance Trust was awarded $5 million from the California Department of Housing and Community Development through the Local Housing Trust Fund Program. This significant award of funds will be matched with local funds from the County of Orange to help finance the development of 434 new affordable and permanent supportive housing units for low-income families and the chronically homeless.
The Trust competed with 23 other applications to obtain the funding. The Trust tied for 3rd place with four other organizations. The total funding request of all the applications totaled $86 million. However, the State only had $57 million to award and therefore some of the applications didn’t get funded.
OC Housing Trust Receives $4.2 Million Grant
February 11, 2021
A $4.2 million grant from the state to the Orange County Housing Finance Trust will help finance seven developments with 467 affordable apartments throughout the county, officials said Thursday.
In a competition that drew bids from 33 other organizations throughout California, the state ranked the Orange County Housing Finance Trust's project second. The Orange County Board of Supervisors agreed to match the grant, a necessary step in the process.
Huntington Beach votes to join O.C. Housing Finance Trust
February 19, 2020
The City Council voted 6-1, with Councilman Erik Peterson dissenting, to join the Orange County Housing Finance Trust.
The Housing Finance Trust was formed last year by the county Board of Supervisors as a joint powers authority of Orange County and area cities. It released its first notice of funds available in January, totaling more than $11 million.
Peterson said $11 million is a small sum for large development projects.
Housing Finance Trust manager Adam Eliason said development projects are encouraged to get funding from multiple sources and that the trust is just one “layer.” First-year funding was entirely underwritten by the county, and the trust looks to gain private funding in the future, along with contributions from member cities, he said.
Orange County launches new panel to get 2,700 housing units for homeless people
July 1, 2019
Members of a new governmental panel aimed at getting people out of Orange County’s streets and parks and from under freeway overpasses, and get roofs over their heads, left their first meeting Thursday with a single goal — to find money for 2,700 housing units over the next six years.
But for members of Orange County Housing Finance Trust — a new joint-powers authority that involves the county and local cities — the path to that money will wind through a maze of Sacramento bureaucrats, private donors, developer fees and county and city funds. In the end, to get those homes and keep them affordable for at least 15 years, they’ll need to land about $1 billion.
Orange County allocates $5 million toward Orange County Housing Finance Trust
June 26, 2019
Orange County is investing millions of dollars to increase affordable housing for low-income families and the homeless.
Under the county’s Fiscal Year 2019-2020 budget, the Orange County Board of Supervisors approved Supervisor Andrew Do’s proposal to allocate $5 million toward the Orange County Housing Finance Trust. In March, Orange County Supervisors unanimously approved the agreement to launch the regional housing body to address the region’s affordable housing shortage.
Orange County Takes First Step to Spur Homeless Housing
March 18, 2019
Orange County’s homeless residents are one step closer to having individual housing options after county supervisors agreed to sign onto a regional body aimed at creating 2,700 new supportive housing units.
“We have both a housing and homelessness crisis throughout the state of California,” said County Board of Supervisors Chairwoman Lisa Bartlett at the March 12 public meeting.
“Without housing, we’re creating a burden on current and future residents. This is especially true for those suffering from homelessness and those in our workforce who may be one paycheck away from homelessness,” Bartlett said.
Governor signs bill that allows creation of Orange County trust to help house homeless people
September 11, 2018
Gov. Jerry Brown on Tuesday, Sept. 11, signed into law a bill that will allow Orange County and its 34 cities to form the Orange County Housing Finance Trust and jointly compete for state and federal funds to help house the local homeless population.
OC Homeless Housing Bill Clears Legislature as Leading Advocate Leaves Job
August 27, 2018
A bill to create a regional Orange County agency to finance 2,700 homes for homeless people cleared the state Legislature unanimously last week, on the same day one of the leading advocates who helped get the bill passed suddenly left her job.
Heather Stratman, who officials and advocates say led the effort to get the bill passed, stepped down from her job as the chief executive of OC cities on Thursday, Aug. 23 – the same day the bill had its final, unanimous vote on the floor of the state Assembly.