STONEGATE SENIOR VILLAS

CITY OF ORANGE, CA
Redevelopment of the City of Orange

LOCATION
170 N. Prospect Avenue
City of Orange, CA

PROJECT SIZE
20 units on .37 acres (16,000 s.f.), averaging
55 units per acre

PROJECT CONCEPT
Urban Pacific Builders, LLC in a public/private partnership with the City of Orange Redevelopment Agency is developing a high-density urban-infill site in the eastern area of the City. This area is the fastest growing area in the City at present, and provided a perfect opportunity for Urban Pacific to develop a 100% affordable housing community to serve the needs of low-income tenants in the area. Urban Pacific will rent units to residents at 40% and 50% of Orange County median income.

Architect:	Secoy Architects Orange, CA
Current Status:	Construction Completed. Open August 2003.
Financial Status:	All project financing is in place, with the construction loan funded. The project will reach stabilized ops. by December 2003, with a permanent loan funded by December 2003.
Source of Project Financing:	Washington Mutual Bank, NA Arthur Porter, Community Lending 17877 Von Karman, 4th Floor Irvine, CA 92614 (949) 833-4123 (949) 833-4125 Fax
Project Cost:	$5,000,000