February 12, 2014
Modesto, CA — On Wednesday, February 12, nonprofit affordable housing developer EAH Housing welcomes supporters, partners, elected leaders, neighbors, and residents for the grand opening of Archway Commons. The GreenPoint Rated community offers 76 energy-efficient rental apartments, designed to be affordable for families earning up to 60 percent of the Area Median Income. Archway Commons is located at 1101 Carver Road, Modesto.
More than a decade ago, the City of Modesto zoned the location for multifamily housing development to serve as a catalyst for the surrounding area’s renewal. The groundbreaking for Archway Commons occurred in June of 2012.
“When you have an opportunity to improve your community, you have to take it,” said Mayor Garrad Marsh. “Archway Commons is a chance for low income families and seniors to stabilize their financial life, get ahead and, ultimately, achieve the American Dream.”
The property also received special commendations from the Offices of U.S. Representative Jeff Denham, State Senator Anthony Cannella, State Senator Galgiani, and State Assemblymember Adam Gray.
“I see this community as part housing and part hope,” said Mary Murtagh, EAH Housing president and CEO. “For seniors living on a fixed income, this will give them a chance to spend less on housing and more on essentials like medicine or food. For families, this will serve as a fresh start and help them save and plan for the future.”
Archway Commons provides one-, two-, and three-bedroom apartments in garden-style buildings. All ground-level units are compliant with Americans with Disabilities Act (ADA) regulations. The apartments feature private decks/balconies, Energy Star appliances, and energy efficient windows.
Depending on household size and income, a one-bedroom apartment at Archway Commons rents for $532, two-bedroom for $330 to $609 and three-bedroom for $377 to $800.
Archway Commons features a central clubhouse and community center, swimming pool, tot lot, barbeque areas, resident garden area, open turf playing fields, bicycle storage rooms, and a computer learning center.
Development of Archway Commons would not have been possible without an award of 9 percent Low Income Housing Tax Credits. The affordable rental community is also funded through the City of Modesto’s low and moderate income housing set-aside funds and HOME funds from the U.S. Department of Housing and Urban Development. Additional development financing is provided by Chase Community Development Banking, and Hudson Housing Capital serves as the equity investor.
“Chase is proud to invest in the future of Modesto and continue our long-standing partnership with EAH Housing. Developing Archway Commons created jobs and housing, and brings together the community unlike anything else,” said Alice Carr, western regional manager for Chase Community Development Banking.
“Hudson Housing Capital is proud to partner with the talented and hardworking team at EAH Housing,” said Blake Davis, vice president of Hudson. “They continue to adapt in the face of complex challenges in affordable housing advocacy and finance. Without a doubt, our partnerships at Archway Commons and other properties improve countless lives.”
When sufficient financing becomes available, a Phase II development will add an additional 74 units adjacent to this site, allowing EAH Housing to serve even more families in Modesto.
EAH Housing is also providing property management services to Archway Commons. In addition, there is an after-school tutoring program, job search assistance program, and computer lab assistance. A Neighborhood Watch program will soon launch along with financial and nutritional classes.
About EAH Housing
Established in 1968, EAH Housing is one of the oldest and most respected nonprofit developers and managers in the western United States. EAH has developed more than 7,268 homes and manages 108 properties serving working families, students and seniors in 50 municipalities throughout California and Hawaii.
For more information visit www.eahhousing.org.