May 13, 2009 > Eden Housing acquires affordable housing site in Fremont
Eden Housing acquires affordable housing site in Fremont
Submitted By Denton Ward
Eden Housing, a nonprofit homebuilder headquartered in Hayward, Calif., and Dutra-Cerro-Graden, Inc. (DCG), a commercial real estate broker and developer, announced today that Eden Housing has acquired a 3-acre site in Fremont and plans to build 98 units of much-needed affordable senior housing.
Eden's project manager, Katie Lamont, and DCG's Dominic Dutra and Alan Cerro worked together diligently for almost two years to negotiate lease buyouts and to obtain the necessary entitlements for the development project. In addition, Eden Housing and DCG worked alongside the City of Fremont and the Department of Housing and Urban Development (HUD) to obtain over $25 million in development funds for the housing development on Peralta Boulevard in Fremont's Centerville District.
The site will provide amenities to accommodate a variety of senior citizens daily needs and interests. After countless hours of research, planning and negotiating, Eden will now work to finalize construction drawings and building permits for the site which is anticipated to begin construction in 2010. The project's conceptual plans call for 98 senior affordable units, a community room, offices, common area, residential units and an On Loc Senior Health Services center. Seniors citizens with household incomes at or below 40% of the area's annual median income level, which is currently nearly $24,000, will be able to live affordably and within walking distance of local retail, shopping, transportation, parks and health care facilities.
Dominic Dutra, President and CEO of DCG, said he is "excited that Eden Housing is able to provide affordable living solutions to low-income seniors." Key stakeholders, including HUD and the City of Fremont, were pivotal in securing the development site. Dutra continued, "...without them [HUD, the City of Fremont, and Eden Housing], this development site would likely remain functionally obsolete. As a result of persistence and vision, this site will benefit scores of seniors in our community for years to come."