Wednesday, December 17, 2008

Award-winning Affordable Housing

The paint is dry, fixtures are in and construction is complete at Fair Oaks Court, which recently received national honors as the affordable housing project of the year!

Located in the heart of northwest Pasadena, the spacious complex spans almost two acres and features a blend of 31 new condominiums and nine historic, single-family homes that were recently restored. All buildings embrace the Craftsman architectural tradition.

Most of the units have been purchased by first-time, income-eligible buyers; others have been purchased by workforce-income and the remainder have been sold at market rate.

Two one-bedroom, one-bathroom units, built in 1919 and completely rehabilitated, are currently for sale to income-eligible buyers.

In addition to providing beautiful and affordable homes, the project has spruced up the neighborhood, put existing resources to good use and preserved historic structures in the Villa-Parke area.

Fair Oaks Court was developed by Heritage Housing Partners, a local, non-profit affordable housing developer, in partnership with the Pasadena Housing Department and with assistance from Pasadena Water and Power, Clearinghouse CDFI, Washington Mutual and Los Angeles County.

The complex is located on North Fair Oaks Avenue at Peoria Street, 171 Carlton Ave. and 504 Cypress Ave.

To learn more City of Pasadena affordable homeownership programs, visit here or call 744-8300.

5 comments:

ben wideman said...

Very cool! We need more of this in Pasadena, and across the US for that matter.

Petrea said...

Isn't Heritage Housing Partners the same company that saved the Greene and Greene Herkimer Arms apartment building from demolition? If so, I'm really liking this company. Well. Even if not. Good going.

Miss Havisham's Tea Party said...

I have to say, I've been by the place and it's quite lovely. Makes me happy to see it. Good on Pasadena. Win.

altadenahiker said...

I used to drive Fair Oaks daily, and this was the ugliest patch of blight. So I was pleasantly shocked to see some real money and talent pumped into this project.

pasadenaadjacent.com said...

Fabulous. I love hearing stories like that.