Exactly one year to the day after Jamboree Housing Corp. broke ground on an empty dirt lot, more than 90 supporters – including local officials and community leaders – celebrated the grand opening of The Arbor at Woodbury in Irvine.
Jamboree says the property was completed ahead of schedule and under budget despite the economic downturn in real estate, and is now home to 90 families.
“This property is well-designed, well-built, and sustainably-built,” says Michael Massie, Housing Development Manager for Jamboree. “It’s all about team and partnership, which are Jamboree’s specialty.”
Those partnerships included collaboration with the city of Irvine and The Irvine Co. throughout the design process, ensuring a seamless integration and concurrent occupancy with surrounding homes in the area.
The Arbor at Woodbury offers high quality workforce housing to families who earn between 30% and 60% of the area median income. For example, a family of four earning $46,500 (50% of area median income) will pay about $1,140/month in rent for their three-bedroom home. Its central location allows access to local parks, nature trails, and shopping and other amenities within walking distance. Jamboree is also providing complimentary shuttle service to residents during commuter hours from the property to the Irvine Transportation Center.
KTGY Group was the architect on the $24.6-million project, while Wermers Multi-Family Corp. of San Diego served as general contractor.
“Union Bank is proud to be an investor in The Arbor at Woodbury, which is providing high-quality, workforce housing and integrated services for working families in the heart of Irvine, a community that offers excellent job and educational opportunities.” says Johanna Gullick, vice president at Union Bank. “This sustainable development is creating a stable living environment for families. Union Bank is proud to work with a strong partner like Jamboree whose continued efforts build communities and change the lives of their residents.”
Homes include central heating and air, Internet and cable access, granite counter tops, and green features such as low-flow showers, dual-flush toilets, and energy-efficient lighting and appliances, including ENERGY STAR refrigerators and dishwashers. In addition, Jamboree’s resident services group, Housing with HEART, will effectively utilize the property’s community center, computer-learning center and tutoring room to provide customized programs and services to enrich the quality of residents’ lives. “Building a workforce development like this has an incredible ripple effect on the broader community,” says Jamboree president Laura Archuleta. “When people can live near their work, they have a better quality of life, they’re more involved in their children’s schools and in their places of worship.”
Archuleta says that this is Jamboree’s sixth community in Irvine, bringing the total number of affordable homes in Irvine to 800.
Additionally, the construction of workforce housing is proving to be instrumental in generating jobs. Jamboree will start construction on six new communities in Orange County this year, creating 532 affordable homes and generating $48 million in construction, which translates to 400 jobs in the first year alone.
The Arbor at Woodbury’s early completion resulted in significant financial savings, says Jamboree. The savings were demonstrated by a refund check in the amount of $575,000 presented by Jamboree’s Archuleta to the city of Irvine. “It’s very rare to complete a project this early,” Archuleta says. “This is only the second time in my career that I’ve had the privilege of returning funds to our partners so quickly.”