Southern California based affordable housing developers Innovative Housing Opportunities (IHO) and C&C Development (C&C) have announced the opening of Pacific Wind, a new 89-unit affordable housing community that replaced 22 1950s era duplexes in the city of Carlsbad. Located at 3875 Sydney Way in Carlsbad’s historic Barrio neighborhood, the new residential community took more than 12 years to bring to fruition.
Pacific Wind features five two- and three-story garden-style walk-up buildings with two play areas for low-income working families and individuals who make between 30 to 80 percent of the average median income (AMI). Already fully leased, the community is now home to more than 300 residents. Located close to an elementary school, park, and active community center, the property encompasses a clubhouse with leasing and resident services offices, a multi-purpose room with kitchen, and learning center
“The more than twelve-year timeframe to get Pacific Wind from acquisition to groundbreaking and then to opening is a testament to the commitment of IHO, C&C, and the City of Carlsbad to deliver much needed high-quality affordable housing amid ever-changing public sentiment, as well as shifting political priorities and funding sources,” said IHO President & CEO Rochelle Mills. “We are grateful to have so many champions that supported the project and helped get it across the finish line.”
“Pacific Wind underscores C&C and IHO’s mission to design and build affordable housing that provides a first-rate and amenity-rich neighborhood environment for Carlsbad residents. We are proud of the City of Carlsbad’s commitment to developing affordable housing and our role in assisting them in achieving their goal,” said Todd Cottle, principal with C&C Development.
True to IHO’s holistic focus on incorporating programs that equip residents for long-term success, Pacific Wind will provide adult education classes with a focus on financial empowerment as well as programs for children and teens. IHO is committed to assisting low-income working families in achieving economic mobility that will help them “Move in. Move Up. Move Ahead. Reach Back.”
Using housing funds from the City of Carlsbad, IHO and C&C acquired 23 duplexes on Harding Street to assemble a large contiguous parcel. The developers acquired another two duplexes and operated the existing 25 duplexes during the holding period. From the beginning, the team weathered CEQA challenges, COVID delays, and changes in housing policies, agency staff, and city council members. Labor and material costs, among other things, also continued to increase. By the time the project was back on track, 12 years had passed, and a portion of the units originally planned were cut to make the project pencil. Today the project encompasses 87 new units and two rehabbed duplex units.
A true advantage of the new community was that residents who needed to be displaced were offered priority on the new units with approximately 10 families choosing to move into the new housing.
With a budget of approximately $56 million, Pacific Wind was built with funding sources that included Bank of America, California Municipal Finance Authority, City of Carlsbad, and National Equity Fund, as well as federal tax credits.
The Pacific Wind team also included Bassenian Lagoni Architects, M Zaki Design, JAG Interiors, C&C Construction Services (general contractor), Candela Engineering (electrical), Gouvis Engineering Consulting Group (structural), SWS Engineering (civil), TAD Engineering (MEP), and VBK Consulting (project management).
About IHO: The mission of Innovative Housing Opportunities (IHO) is to enrich communities by providing high-quality affordable housing and services. IHO’s vision is to ignite powerful change that increases economic resilience and improves the quality of life for the people and communities it serves. IHO’s California development portfolio provides housing to seniors, families, foster youth, veterans, those living with mental illness, formerly homeless, developmentally disabled, and other special needs and mixed populations. Formed in 1976 to help business and government address the lack of low- to moderate-income housing in the city of Irvine, IHO today works throughout California in strategic partnerships that creatively and effectively maximize efficiencies while achieving the most attractive and well-managed environments for residents and the surrounding communities. www.ihocommunities.org.
About C&C Development: With more than 40 years of experience, Orange County, CA – headquartered C&C Development Co., LLC, is a full-service real estate development company specializing in the construction, acquisition, rehabilitation, and management of affordable housing for working families and seniors. Collaborating with stakeholders, housing organizations, local municipal staff, and elected officials, C&C designs and develops distinctive affordable projects to assist neighborhoods and communities in pursuing their smart growth goals and implementing their long-term housing vision. The company’s development activities revolve around three types of projects for moderate, low, to very low-income residents: new construction of multifamily units; adaptive reuse of existing, underutilized properties; and revitalization/rehabilitation of existing troubled multifamily properties and neighborhoods. https://c-cdev.com/