An estimated total of $31.8 million has been awarded to MidPen Housing in the form of state and federal tax credits by the California Tax Credit Allocation Committee for the development. This represents the final funding needed to begin construction at the site. Over $38 million has been financed for the project, including $2.5 million from the City of Salinas.
"The fact that 21 Soledad has been awarded this highly competitive funding speaks to the City of Salinas' vision and commitment to smart growth," said Betsy Wilson, Director of Housing Development for MidPen Housing. "We're proud to have been selected as their partner to develop this innovative community and look forward to beginning construction!"
As a catalyst for Chinatown revitalization efforts, 21 Soledad Street Housing will provide new housing opportunities for low-income and homeless individuals in Monterey County. MidPen Housing will develop 88 units at the site consisting of 81 studios, 4 one-bedrooms, and 3 two-bedrooms. Two additional two-bedroom units will serve as staff units.
"The efforts of MidPen housing working in conjunction with Salinas will go a long way to bring much-needed housing to our community," said Joseph Gunter, Mayor of Salinas. "We look forward to their continued good work and the completion of this exciting project."
40 units will be set aside for high-need populations, including the homeless. Supportive services for these special needs population will be provided by MidPen Resident Services Corporation including an array of supportive services designed to help them successfully maintain their housing and integrate into the broader community. These services promote physical health, emotional well-being, community building, recreation, and increased socialization.
The Monterey County Health Department will also fund additional case management supportive services at 21 Soledad Street Housing through the County's Whole Person Care program.
Additionally, a $2.5 million one time capital grant has been awarded by the Central California Alliance for Health, the County's Medi-Cal managed care provider, in exchange for 20 units set aside for high utilizers of the health care system.
Through this partnership and innovative use of funding, 21 Soledad Street has
already been recognized
(links to white paper)
as a national model for health and housing. By bringing together the healthcare and affordable housing sectors to benefit people whose health would improve with access to affordable housing, public health care costs are expected to decrease significantly.
"Through the Alliance's partnership with MidPen, we will be able to provide 20 stable housing units for our most vulnerable and medically fragile Medi-Cal members," said Alan McKay, CEO, Central California Alliance for Health. "We know that supportive housing provides a strong cost-effective foundation for individuals to access health care, improve their health and stabilize their lives."
The ground floor of the property will include 10,518 square feet of ground floor retail space and 2,099 square feet of commercial artist work and exhibit space. A link to the retail profile is available
here
.
The City currently owns the property at 5-21 Soledad Street, valued at $500,000, and will donate it to MidPen Housing.
The 21 Soledad Street Housing development is the result of tremendous collaboration through strong multi-jurisdictional partnerships. Partners include:
-
City of Salinas
-
MidPen Housing
-
Central California Alliance for Health/MediCal Capacity Grant
-
Salinas Downtown Community Board
-
California State University, Monterey Bay
-
Coalition of Homeless Service Providers
-
Monterey County Health Department
-
Interim, Inc
-
Continuum of Care
-
Dorothy's Place
-
Asian Cultural Experience
-
Urban Arts Collaborative
-
Main St. Arts Studio
Construction on the project is anticipated to begin in March 2018 with a completion date of Fall 2019. To obtain copies of the architect renderings, contact Beth Fraker at
bfraker@midpen-housing.org
.
The 21 Soledad Street mixed use space is a corner piece of the
Chinatown Revitalization Plan
. The City, in partnership with community stakeholders, will finalize the complete Plan by June 2018.
About MidPen Housing Corporation
It is the mission of MidPen Housing to provide safe, affordable housing of high quality to those in need; to establish stability and opportunity in the lives of residents; and to foster diverse communities that allow people from all ethnic, social, and economic backgrounds to live in dignity, harmony and mutual respect. Since 1970, MidPen has developed and professionally managed over 8,000 homes for low-income families, seniors and those with special needs. With offices in Foster City, Oakland, Santa Rosa and Watsonville, MidPen works in 11 Northern California counties. For more information visit:
www.midpen-housing.org
.
