IRVINE, CA, March 14, 2008--The City of Irvine today will celebrate the grand opening of Woodbury Walk, a development by BRIDGE Housing Corporation. The ribbon-cutting ceremony will begin at 3:30 p.m. at 99 Talisman, Irvine.
Woodbury Walk features 150 newly constructed apartment homes built on land leased from The Irvine Company. Located within the Woodbury master-planned development, Woodbury Walk features 30 one-bedroom, 74 two-bedroom and 46 three-bedroom apartments. The rents, which range from $400 to $938 per month, are priced to be affordable for working families earning below 50 percent of Area Median Income (less than $45,420 for a family of four). “I’m proud of our City’s historic commitment to provide high quality affordable housing within our community,” said Irvine Mayor Beth Krom. “Woodbury Walk is another great example of what can be accomplished through collaboration and the effective leveraging of resources. The Irvine Company and BRIDGE Housing are to be commended for effectively partnering with us to help provide a full-spectrum of housing opportunities in the City of Irvine.” Woodbury Walk includes outdoor play space for children and a community/classroom space for all residents. In addition to the on-site amenities, the apartments are located adjacent to the Woodbury Town Center, which provides access to a full-scale grocery store, a pharmacy and numerous other retail stores. Other amenities include two Irvine Unified School District schools and neighborhood parks and community recreational areas. “In an expensive housing market, people in the service industry--and those whose jobs don’t pay top dollar--are frequently priced out,” said Carol Galante, President of BRIDGE Housing. “Woodbury Walk offers working families the opportunity to live in decent apartments, save more of their incomes and raise their children in a quality setting.” Financing for Woodbury Walk was provided by the City of Irvine, County of Orange HCS, MMA Financial, Wells Fargo Bank and the California Community Reinvestment Corporation. KTGY Group, Inc. is the architect, and Wermers Multifamily Corporation is the general contractor. Grand opening speakers include Irvine Mayor Beth Krom, Orange County Supervisor Bill Campbell, Rick Lamprecht of The Irvine Company and BRIDGE Housing President Carol Galante. For more information about Woodbury Walk and BRIDGE Housing, visit http://www.bridgehousing.com/.
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NOTE TO EDITORS: Photographs of Woodbury Walk are available; please contact Lyn Hikida at 415-321-3552 or lhikida@bridgehousing.com to request.
ABOUT BRIDGE HOUSING
BRIDGE Housing Corporation, the leading nonprofit developer of affordable housing in California, creates and manages a range of high-quality, affordable homes for working families and seniors. Since it was founded in 1983, BRIDGE has participated in the development of over 13,000 homes serving more than 35,000 Californians. For more information, visit http://www.bridgehousing.com/.
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