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BRIDGE Housing to Start Construction of Celadon at 9th & Broadway, San Diego

SAN DIEGO, CA, February 8, 2013—BRIDGE Housing will celebrate the construction start of its latest affordable development in San Diego at a groundbreaking ceremony today at 11 am. The event takes place at 929 9th Avenue at the southeast corner of 9th and Broadway.

Situated on an infill site that was once a parking lot, Celadon at 9th & Broadway will include 250 rental apartments for individuals and small families. Eighty-eight of the apartments are targeted to be supportive housing, including 25 units for youth aging out of foster care and other special-needs residents; 63 apartments will serve frail seniors under the Program of All-Inclusive Care for the Elderly (PACE).

The apartments will be affordable to residents with annual incomes of up to $38,700 for a two-person household. Monthly rents will range from approximately $408 to $879, depending on factors such as income, household and apartment size.

Celadon at 9th & Broadway made headlines in late 2012 when it appeared that $20.2 million of the project’s funding, sourced from redevelopment dollars, was in jeopardy. Ultimately, the state Department of Finance determined that the funding obligation was enforceable, allowing BRIDGE to move forward and close on construction financing last month.

“9th and Broadway will add important housing resources for downtown San Diego, particularly the units targeted for former foster youth, who are at great risk of becoming homeless, and frail seniors, who otherwise might find nursing homes their only alternative,” said Assemblymember Toni Atkins. “I am extremely pleased that the state Department of Finance reconsidered its earlier decision and that this project can now move forward.”

“Civic San Diego is profoundly honored to have championed the 9th & Broadway project, a new urban residential community that exemplifies sustainable development while providing quality, low-cost housing that will transform many people’s lives,” said Jeff Graham, President of Civic San Diego.

Residents will have access to a community room, community kitchen, and outdoor space on the building’s ground floor. The fifth floor will feature a supportive services office, a laundry room, a seminar room with a kitchen, and a resident garden. The high-rise project is expected to be LEED Silver certified and will have an eco-roof with drought tolerant planting, a photovoltaic system to cover a portion of the house electric loads, and highly efficient mechanical systems.

“We are delighted to bring this volume of affordability and resident services to downtown San Diego,” said BRIDGE Housing President and CEO Cynthia A. Parker, “particularly at a transit-oriented location.” The property is located three blocks from a major trolley stop and close to grocery stores, a library, a post office, and a park.

Financing for Celadon at 9th & Broadway is being provided by US Bank, US Bank CDC, City of San Diego, California Department of Housing and Community Development, California Housing Finance Agency/County of San Diego BHS, and the San Diego Housing Commission. The executive architect is SVA Architects, Inc., the design architect is Studio E Architects, and the general contractor isTurner Construction Company.

Expected speakers for the groundbreaking include Assemblymember Toni Atkins (D-78th); San Diego Mayor Bob Filner; San Diego Councilmember Todd Gloria; Jeff Graham, Civic San Diego; Paul Shipstead , US Bank; Rick Gentry, San Diego Housing Commission; Rick Holliday, BRIDGE Housing Chairman, and Cynthia Parker, BRIDGE Housing President and CEO.

Prospective residents may call 619.819.7622 or visit www.bridgehousing.com for information.

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