Financing closes on $170M on Two California Projects to Renovate 200 Units

Posted by beacon on Fri, Aug 21, 2020 at 5:57 PM

Acquisition/Rehab, Awards & Recognition, Beacon, California, Construction, Family Housing, Historic Buildings, Occupied Rehabs, Senior Housing

Starting in Northern California and in partnership with Third Baptist Church, Beacon Development Group and HumanGood Affordable Housing successfully closed on a $100M low income housing tax credit financing for the renovation of 104 units at Frederick Douglas Haynes Gardens Apartments. This redevelopment will improve the quality of living for the residents and preserves the community’s affordability for years to come. Frederick Douglas Haynes serves low-income families in the heart of San Francisco’s Filmore district.

Rendering of Community Room at Frederick Douglas Haynes by Paulett Tagartt Architects.

The Third Baptist Church of San Francisco was founded in 1852 and has been a staple in the San Francisco community for 168 years. As the first African American congregation west of the Rockies, Third Baptist Church has continuously worked with their community to address the rapidly growing need for affordable housing and equity. The preservation of the Frederick Douglas Haynes Gardens Apartments was critical for the large families and communities of color that have been disproportionately displaced in a quickly gentrify urban core of San Francisco.

In Southern California, Beacon Development Group and HumanGood Affordable Housing closed on $70 million in total financing to preserve and rehab 96 units of senior housing at Castle Argyle Apartments. This project will have major upgrades of all systems and a complete seismic retro-fit.

Originally constructed in the 1920s as an apartment-hotel serving the silent film industry, it housed movie stars such as Clark Gable, Howard Hughes, Ronald Reagan and Cecil B. DeMille. The design intent of this renovation is reveal the building’s classic character and re-introduce its orgins of the Golden Era. Along with rehabbing all units and addition of service spaces, the restoration of the grand lobby and office space will bring the building back to its classic Hollywood style.

These accomplishments in the middle of a pandemic and social unrest are a testament to our team’s professionalism, commitment, and love of the mission.

Beacon Development Group makes a difference in Judson Terrace Homes residents’ lives

Posted by beacon on Wed, Aug 19, 2020 at 3:54 PM

Awards & Recognition, Beacon, California

Judson Terrace Homes located in San Luis Obispo, CA. Photo by David Lalush Photography.

Earlier this year, Beacon Development Group successfully obtained rental subsidies from the U.S. Department of Housing and Urban Development (HUD) for affordable housing residents who were facing a rent increase.

Orest Dolyniuk, development director at Beacon Development Group, led the charge on behalf of residents of Judson Terrace Homes, our affordable housing community in San Luis Obispo, California. He spent the better part of 2019 working with HUD to approve our application for these vouchers, which arrived in January 2020.

“Judson Terrace Homes was the first opportunity we had to pursue an additional rental subsidy, and getting the vouchers and the subsidy for current and future residents is one of the most impactful ways we could assist our residents,” said Orest.

“When the vouchers came through, they were manna from heaven,” said Mary Leizear, a Judson Terraces home resident since 2007. “I was growing increasingly concerned, and I was fairly certain and had nightmares that at some point my rent would go up and I was going to be kicked out.”

Judson Terrace Homes courtyard and community room building. Photo by David Lalush Photography.

The community, originally built in 1970, completed renovations this past January. Improvements included new appliances in the apartments, energy-efficient upgrades, including new windows, and new roofs on all eleven buildings that make up the community.

Beacon Development began planning for the renovation and refinancing of the community in February 2018. The process included obtaining funding by securing tax-exempt bonds and four-percent low income housing tax credits. As part of the refinancing process, rental increases would have impacted the community’s residents if not for the subsidies acquired by Beacon. The refinancing is part of HumanGood’s commitment to preserve the community’s affordability status as originally established when it was built. The renovation project extends Judson Terrace Homes’ affordable housing status another 55 years.

“At times, people think of developers as being solely focused on the financial structure of the deal,” said Cindy Proctor, vice president of Beacon Development Group. “Orest’s tenacity and perseverance for the vouchers reflects the compassion and empathy he and all of the development team possess.”

Ancel Romero, president of HumanGood’s affordable housing, signed the contract with the city of San Luis Obispo’s housing authority for the vouchers, resulting in 92 apartments receiving subsidies.

Rotary Terrace Senior Housing receives Senior Housing News Architecture & Design Awards

Posted by beacon on Fri, Jan 3, 2020 at 11:18 PM

Awards & Recognition, Beacon, California, Senior Housing

Rotary Terrace located in South San Francisco. Photo by Abraham & Paulin Photography.

Rotary Terrace Senior Housing located in South San Francisco, CA. Photo by Abraham & Paulin Photography.

Beacon Development Group is excited to announce that Senior Housing News (SHN) awarded Rotary Terrace Senior Housing as the first-place winner of the sixth Annual SHN Architecture & Design Awards for affordable housing communities.

SHN established the Architecture & Design Awards in 2013 as a way to recognize and celebrate companies utilizing cutting-edge design and innovation to improve the lives of seniors.

Rotary Terrace was among more than 100 communities worldwide vying for the top honors across nine categories which included affordable housing, assisted living, continuing care retirement community (CCRC), hospice, independent living, international, renovation/repositioning, skilled nursing/post-acute care and standalone memory care.

“Winning the SHN design award is a great honor for HumanGood. It reflects our larger organizational commitment to inspire seniors to live their best lives possible regardless of their economic status,” says Cindy Proctor, vice president at Beacon Development Group (BDG), a subsidiary of HumanGood.

Opened in January 2019, this 81-unit senior housing community was developed in partnership with HumanGood Affordable Housing (HGAH) and the South San Francisco Rotary Club. BDG worked closely with HKIT Architects and J.E. Roberts-Obayashi as the General Contractor to create an innovative design.

The design features of this community include comfortable spaces, two-rooftop terraces, a second-floor open-air courtyard and lounge areas. It also has sustainable design features including a solar power system, high-efficiency LED fixtures with sensor controls, EnergyStar appliances and dual-pane energy efficient windows. A fitness center, library and high-speed internet are among the community’s many amenities; and it also houses ground-level office space for the Rotary Club that doubles as a public community space.

Located a quarter mile from a Caltrain station in South San Francisco, CA, this five-story building is a great addition to the city’s downtown redevelopment subarea.

Beacon is Hiring – POSITION FILLED

Posted by beacon on Wed, Dec 4, 2019 at 6:26 PM

Beacon, Construction, Washington

Beacon Development Group seeks an experienced Construction Manger to assist its development teams in the feasibility, design and construction of housing development projects. Ideal candidate has strong project management experience and construction experience. They are detail-oriented, respected in the industry and focused on team and client needs.

The Construction Manager (CM) is an important member of a development team at Beacon. The CM is responsible for physical aspects of a project from feasibility to lease-up and warranty. They work closely with a Project Manager (PM), who is responsible for the financial aspects of a project. The PM is further responsible for establishing the project goals, including those of the client, budget and schedule. The CM’s job is to ensure the project goals are met relative to design and construction. The CM must be aware and communicate with the PM on issues that could impact the project budget or schedule or could have legal or regulatory consequences.

The job is varied and requires curiosity, initiative, flexibility and communication excellence. CM’s should be willing to research and teach staff about new technologies or trends in the industry. They should have or develop a network of professional resources to assist with project needs. Fundamentally, the CM is a problem solver who deploys resources effectively, efficiently and ethically to support vital affordable housing projects.

For more information on the position and to apply please visit Taleo.

Filipino Community Village Ground Breaking Ceremony

Posted by beacon on Mon, Oct 21, 2019 at 5:10 PM

Beacon, Construction, Senior Housing, Washington

On September 18, Beacon joined Filipino Community of Seattle, HumanGood Affordable Housing, elected officials including Mayor Durkan and more than 200 local community members and donors to celebrate the ground breaking of Filipino Community Village. The new community, totaling just over $36 million in development, will offer a unique model combining culturally-specific social services and 95 affordable apartment homes for low-income seniors. A segment of the apartments will be set aside for people with disabilities. The building will also house the Innovation Learning Center for the local youth. The learning center will offer computer courses, a robotics program and a science-technology-engineering-arts-math (STEAM) program.

“The Filipino Community Village is made possible by the decades-long efforts of the Filipino Community of Seattle, and our very own Beacon Development Group and HumanGood. This milestone brings us ever closer to making this dream a reality for the low-income seniors of Seattle for many years to come. As the Seattle market continues to price out countless low-income seniors, we are proud to welcome what will soon be HumanGood’s 96th affordable housing community,” said Ancel Romero, president of HumanGood Affordable Housing.

The project is funded through support from the City of Seattle, the State of Washington, King County, Umpqua Bank and Hudson Housing Capital. The project team includes Beacon Development Group, Rolluda Architects and Marpac Construction. HumanGood Affordable Housing will manage the new community upon it’s completion in March 2021.

Yakima Housing Authority Ground Breaking Ceremony

Posted by beacon on Tue, Sep 24, 2019 at 8:27 PM

Beacon, Construction, Washington

Anticipated completion date is July 2021

The Yakima Housing Authority (YHA) was joined by funding partners, elected officials and the development team to mark the start of construction of their latest project, Chuck Austin Place. The project will provide 10 two-bedrooms, 17 one-bedroom and 14 studio units of supportive housing for homeless veterans and their families. It will include a comprehensive social service center for homeless veterans in the Yakima community, including a medical and dental clinic operated by Yakima Neighborhood Health Services and case management offices for the VA and Blue Mountain Action Council.

The former Yakima Armory is being donated to YHA through a federal property disposition program. Funders include the State Housing Finance Commission, Enterprise Community Investment, Heritage Bank, the State Department of Commerce Housing Trust Fund and Local and Community Projects funds, the City of Yakima, Federal Home Loan Bank, and Impact Capital. The rooftop solar panel installation is being funded through a grant from Pacific Power’s Blue Sky fund and Energy Tax Credits via Enterprise. US Senator Patti Murray and Chuck Austin, a three-war veteran and the project’s namesake, spoke at the event.

Veteran Chuck Austin, YHA Executive Director Lowel Krueger and WA Senator Murray

YWCA Pierce County Ground Breaking Ceremony

Posted by beacon on Wed, Jul 24, 2019 at 5:56 PM

Beacon, Construction, Family Housing, Special Needs, Washington

Home at Last, YWCA Pierce County (Rendering: SMR Architects)

YWCA Pierce County CEO Miriam Barnett, Tacoma City Council Member Ryan Mello, Mayor of Tacoma Victoria Woodards, Tacoma Housing Authority CEO Michael Mirra, Washington State Senator Laurie Jinkins and U.S. Representative Denny Heck.

On July 20^th, YWCA hosted a ceremonial groundbreaking for their Tacoma project Home at Last that is scheduled to start construction next month. The project will provide 54 units serving individuals and families whose income are at or below 30% or 50% of the area median income, plus one manager’s unit. There will be a range of unit sizes from studios to three-bedroom units to accommodate these families, with 42 units set aside for homeless households and 12 units designated for families with special needs. The ground floor of the building will contain 4,000 square feet of space that will house support services. The YWCA’s counseling and housing programs will occupy this space. Residents will have access to a full range of programming provided by the YWCA in the adjacent building, including legal services, therapeutic children’s programming, youth services and support groups.

YWCA Pierce County CEO Miriam Barnett, Mayor of Tacoma Victoria Woodards and Washington State Representative Laurie Jinkins were among the speakers who shared their appreciation for the project. The $23 million construction is scheduled to be completed in Spring of 2021.

For more information on the project you can visit: https://www.homeatlastywca.org/.

Topping Off of Wenatchee Supportive Housing

Posted by beacon on Wed, Jun 12, 2019 at 11:11 PM

Beacon, Construction, Family Housing, Washington

The four-story building will have two elevators and over 5,000 sf of residential common areas

On May 31st, Beacon hosted a lunch to celebrate the Topping Off of Wenatchee Supportive Housing.

The project will provide 67 units of affordable supportive housing in the rural Wenatchee, WA . The project sets aside (16) 811 PRAC units for people with disabilities, another (33) units are set aside for homeless families with children. The projects incomes will be restricted households at or below 30%, 40% and 60% of area median income. The four-story building will consist of 25 one-bedroom, 20 two-bedroom and 22 three-bedroom units. Each floor will be equipped with common laundry facilities and the ground floor includes office space for property management and residential case management staff with a large community space for residents. The location offers scenic views, overlooking the Wenatchee valley with the Columbia River to the East and the Central Cascades to the Southwest.

Catholic Charities Housing Services is the project sponsor and the list of funders includes WA State Housing Trust Fund, 811 PRAC, WSHFC Low Income Housing Tax Credits, National Equity Fund (NEF), City of Wenatchee, Catholic Charities Diocese of Yakima, and Chelan-Douglas County. The completion date is scheduled for December 2019.

The construction crew and project team enjoyed tacos in the soon to be community room

Eastern view from Wenatchee Supportive Housing

Meet Our New Business Development Director Alex Medeiros

Posted by beacon on Wed, Jun 5, 2019 at 8:51 PM

Beacon

Beacon Development Group is pleased to announce that Alex Medeiros has joined the team as the new director of business development, effective March 4.

Alex will be focused on leading our mission to develop housing solutions for the middle market. He will be responsible for strategic planning, capital formation and execution of our business. In addition, he will assist with BDG’s third-party consulting practice as a project manager on select projects. Alex brings more than 10 years of experience in real estate and development. Most recently, he served as a vice president at CBRE affordable housing where he focused on national transaction services for Section 42 low-income housing tax credits and Section 8 HUD housing. At CBRE, he participated in more than 155 transactions, totaling more than $2 billion. He also has worked in commercial real estate serving as a broker and analyst.

Alex earned his Bachelor of Arts in economics from Washington State University and a Master of Professional Studies in real estate from Georgetown University in Washington, D.C. In his free time, he enjoys the outdoors, traveling and cooking.

Beacon is Hiring – POSITION NOW CLOSED

Posted by beacon on Thu, Apr 4, 2019 at 3:25 PM

Beacon, California

Beacon Development Group is looking for a Housing Developer in our Pleasanton, California office. This position will report to the Director of Development and will work with a team of staff to develop multiple affordable housing projects. This position is responsible for supporting all aspects of project development from planning to closeout. The scope of this position’s responsibilities may include the following: assessment of community needs; identification and acquisition of appropriate sites; formulation of feasible housing proposals, including development and operating budgets and project schedules; assisting the sponsor in conducting community notification; preparation and review of funding applications; and coordination of internal members of the project development teams and external consultants.

For more information, please see the full job description: Housing Developer CA Region

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