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BRIDGE Housing Breaks Ground on Affordable Family Apartments in Los Angeles

LOS ANGELES, CA, June 20, 2013—BRIDGE Housing will celebrate the construction start of Sage Park Apartments at a groundbreaking ceremony today at 2 pm. The event takes place at 1302 West 177th Street, Los Angeles.

Developed through a partnership between BRIDGE Housing and the Los Angeles Unified School District, Sage Park will feature 90 affordable rental apartments for families on a 3.5-acre site on the north side of the Gardena High School campus. When complete in August 2014, Sage Park will offer 29 one-bedroom, 31 two-bedroom and 30 three-bedroom apartments in two- and three-story wood frame buildings; all units will have private decks or balconies.

Rents will be affordable to residents with annual incomes ranging from approximately $24,840 to $49,680 for a four-person household (30-60% of Area Median Income). Monthly rents will range from $431 to $1,241 depending on factors such as income, household and apartment size.

Amenities include a fitness room, community room, laundry facilities, a community garden and landscaped courtyards. BRIDGE will also provide a service coordinator who will develop individualized support service plans for each household. Sage Park Apartments was designed to achieve LEED Silver certification, and the landscaping plan calls for planting and related materials that are sustainable and respect the existing environment.

On a one-acre parcel adjacent to Sage Park, the partnership is developing additional community amenities, including a Joint Use Facility with two multipurpose rooms, outdoor patio and a community garden. To the east of the Joint Use Facility, the partnership will construct a small building and an obstacle training course that will be used by the LAPD’s Juvenile Impact Training program.

“The Los Angeles metropolitan area ranks #2 in the nation in terms of severe housing cost burden for working families,” said BRIDGE Housing President and CEO Cynthia A. Parker. “We’re thrilled that Sage Park will help fulfill the need for affordable homes. In addition, this development illustrates how underutilized land can be repurposed in ways that benefit the greater community.”

“This is an amazing project and a true celebration,” LAUSD Chief Facilities Executive Mark Hovatter said. “We have a great partnership with BRIDGE Housing and hope others will join with us to build these types of major master planning projects in communities throughout LAUSD. We can’t wait to come back and cut the ribbon next year.”

“Today we celebrate the successful partnership between BRIDGE Housing and LAUSD,” LAUSD Board Member Dr. Richard Vladovic said. “The Sage Park Apartments complex will be a highly successful master planning project that benefits our entire community. In addition, the outstanding services provided are extremely convenient for the families who will live in these affordable housing units. This project is definitely a model for success and one we hope to continue to replicate Districtwide.”

Financing for the $28-million property is being provided by the New Generation Fund (predevelopment lender), Los Angeles Housing Department, California Tax Credit Allocation Committee, Bank of America and the California Community Reinvestment Corporation. The architect is Steinberg Architects, and the general contractor is Portrait Construction, Inc.

Expected speakers for the groundbreaking include Mark Hovatter, Chief Facilities Executive, Los Angeles Unified School District; Dr. Richard Vladovic, Board Member, District 7, Los Angeles Unified School District Board of Education; Councilman Joe Buscaino, District 15, Los Angeles City Council; Mercedes Marquez, General Manager, Los Angeles Housing Department; Ari Beliak, Vice President, Bank of America; and Cynthia Parker, President and CEO, BRIDGE Housing.

Prospective residents may call 310.205.2583 or visit www.bridgehousing.com for more information.

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NOTE TO EDITORS: Renderings of Sage Park are available; please contact Lyn Hikida at lhikida@bridgehousing.com to request.