Grand Opening of Palm Terrace Apartments in Lindsay

Grand Opening of Palm Terrace Apartments in Lindsay

Posted on November 14, 2018

 

On November 13, Self-Help Enterprises held a ribbon cutting to celebrate the  grand opening of the Palm Terrace apartments, a 50-unit affordable rental community located at 700 W. Hermosa St. in Lindsay.

Palm Terrace will provide permanent affordable rental housing to working people in Lindsay, and is located within walking distance of shopping, schools, and fresh food. It is a highly energy efficient and transit-friendly project as well, with sustainable features including solar PV, water conservation, and a grey water recycling system. In addition, Palm Terrace will include a vanpool program in partnership with the California Vanpool Authority that will transport residents from Palm Terrace and the surrounding community to and from work. The project’s solar panel system will offset the power used in the common area, residential loads, and community center, making Palm Terrace a grid neutral zero net energy project.

The project design and solar PV will result in reduced utility bills for residents and the property, while also reducing greenhouse gas emissions and air pollution. Palm Terrace will include sidewalks, pedestrian improvements and bike lanes. Self-Help Enterprises was also able to provide funds to the City of Lindsay to construct a roundabout traffic feature at the intersection of Westwood Ave. and Hermosa St. to calm traffic and improve safety for students accessing the Jefferson Elementary School, north of the site.

“The best part of living here is that my kids have their own room, girls in one and boys in another,” said Arlin Cisneros, new Palm Terrace tenant. “My kids love going out to the playground and I love being able to do laundry in my own home.”

As a single working mother, Arlin has struggled to find an affordable place large enough for her children. Now that she has settled in to her new Palm Terrace apartment, she can start focusing on furthering her education and finding a stable job that can continue to provide for her family.

Lindsay is home to about 13,000 people, many of them agricultural workers. With a median household income just over $30,000, 34% less than Tulare County’s household median income, Lindsay residents often have to live in over-crowded conditions and substandard housing. “Having a decent place to live is essential to the stability and success of our working families,” said Tom Collishaw, President/Chief Executive Officer for Self-Help Enterprises. “Palm Terrace brings a much-needed housing opportunity for people who need and deserve affordable housing. ”

“The City of Lindsay is proud to partner with Self Help Enterprises. In a time where available affordable housing is the crucial issue facing California, Self-Help Enterprises has taken the lead, creating innovative, high-quality and energy-efficient affordable housing projects throughout our Valley,” said Bill Zigler, City Manager for Lindsay. “Additionally, Self-Help Enterprises viewed potential congestion issues at a nearby elementary school and pursued transportation-related grant funding to aid in the construction of a $1.6M roundabout adjacent to the project, which according to the Federal Highway Administration will reduce fatalities by 90%, injuries by 76% and accidents by 35% over all other intersection configurations.  Further, in an effort to protect and improve the City’s drinking water Self-Help Enterprises has invested in the City’s water infrastructure, helping to protect water quality, increase availability and improve efficiencies now and for the foreseeable future.  The City of Lindsay is beyond pleased to have Self-Help Enterprises and its Palm Terrace apartment project as our newest neighbor.”

Palm Terrace features one-, two- and three-bedroom units, with a 1982 sq. ft. community building, playground, community garden, and open space for residents. The community building includes a computer lab, which will be available to adults and children for schoolwork and educational activities. Self-Help Enterprises will offer a robust onsite resident services program that will include job training, health and wellness services, financial training, homebuyer education and a variety of youth afterschool activities.

Monthly net rents, ranging from $310 to $720, are determined based on unit size and income. These below market monthly rents means that Self-Help Enterprises is providing an affordable housing opportunity to local residents. Palm Terrace is the first affordable rental community built by Self-Help Enterprises in the City of Lindsay. Palm Terrace is among 32 affordable apartment rental communities owned by Self-Help Enterprises serving 1,458 families throughout the San Joaquin Valley.

This project is being financed through a combination of Affordable Housing and Sustainable Communities (AHSC) program funds via California’s Cap-and-Trade proceeds, Multifamily Housing Program funding from the Housing and Community Development Department (HCD), private equity raised through the federal low-income housing tax credit program, and Affordable Housing Program (AHP) funds through the San Francisco Federal Home Loan Bank, sponsored by Wells Fargo Bank. The AHSC program is administered through a partnership between the Strategic Growth Council and HCD. Construction loan financing is provided by JP Morgan Chase. Tax credit equity is being provided through the National Equity Fund, with Morgan Stanley as the primary investor. Start date for phase two of project has not yet been determined.

“Palm Terrace is emblematic of what can be accomplished when government and the private sector work together. Palm Terrace will make life better for those who live there and help our environment, too. We are pleased to have been part of making this a reality,” said Ben Metcalf, Director of the California Department of HCD.

“The Strategic Growth Council is proud to support this innovative project that will provide its residents with safe, affordable and energy-efficient homes, while also improving transportation options for the entire community of Lindsay,” said Louise Bedsworth, Executive Director at the Strategic Growth Council. “It is a great example of how cap-and-trade investments support projects that help meet our climate goals, but also improve the lives of Californians.”

For more information about our rental communities, click here. For the full photo gallery of the grand opening, click here.