Part of New Residential Community for Hundreds of Families
FREMONT, CA, November 9, 2007--The City of Fremont today will celebrate the grand opening of Irvington Terrace, a development by BRIDGE Housing Corporation. The ribbon-cutting ceremony will take place at 12 noon at 4109 Broadmoor Common at Grimmer Boulevard, Fremont.
Irvington Terrace features 100 affordable apartment homes for working families earning between 30 and 50 percent of Area Median Income (currently up to $84,500 for a family of four). Rents for the one-, two- and three-bedroom apartments range from $429 to $910 per month, depending on income and apartment size; these are a fraction of market-rate rents for the area. Common areas, designed to meet the needs of families, include two large landscaped courtyards, children’s play areas, a spacious community room and laundry facilities. Irvington Terrace is the affordable rental component of Fremont’s new mixed-income, master planned community, the 8.6-acre Irvington Village. The village is located in a pedestrian-friendly residential neighborhood close to transportation, parks, schools, employment, and a full range of retail services and amenities. “This is perhaps our most ambitious effort to date to build a community that will serve a broad section of our population and fill needs for many lower-income people in a blended community,” said Fremont Mayor Bob Wasserman. Just across Broadmoor Common from Irvington Terrace is Park Lane, another component of Irvington Village. Developed by Regis Homes of Northern California. Park Lane offers 115 market-rate for-sale townhomes and garden homes, and a second phase will include 168 additional homes to complete the residential community. BUILD (BRIDGE Urban Infill Land Development), in partnership with Regis Homes, has invested substantial equity in both phases of Park Lane. “Irvington Village demonstrates how BUILD can leverage resources to bring new homes and economic activity to an underutilized site,” said Carol Galante, President of BRIDGE Housing. “We’re grateful for the commitment of the city and the many partners who have worked to make Irvington Village a reality.” Financing for Irvington Terrace was provided by the City of Fremont, Redevelopment Agency of the City of Fremont, California Department of Housing and Community Development, Housing Authority of the County of Alameda, Wells Fargo Bank, MMA Financial and California Community Reinvestment Corporation. McLarand Vasquez Emsiek & Partners is the architect, and L&D Construction is the general contractor. Grand opening speakers include Fremont Mayor Bob Wasserman, Wells Fargo Bank Senior Vice President & Team Leader Margaret Schrand, Irvington Terrace resident Syeeda Antasham, and BRIDGE Housing President Carol Galante. For more information about Irvington Terrace and BRIDGE Housing, visit www.bridgehousing.com. # # # NOTE TO EDITORS: Photographs of Irvington Terrace are available; please contact Lyn Hikida at 415-321-3552 or lhikida@bridgehousing.com to request. | 
