Ivy II at College Park Breaks Ground in Chino
CHINO, CA, December 7, 2015---The City of Chino today will celebrate the groundbreaking of Ivy II at College Park at 11 am at 5950 Notre Dame Avenue.
The developer is BRIDGE Housing, a nationally recognized nonprofit that creates, owns and manages affordable housing in California and the West.
Ivy II at College Park comprises 200 apartments for families and will be affordable to households earning 50% to 60% of Area Median Income. The property, which borders Ivy's completed first phase of 135 affordable apartment homes, is located on a nine-acre site within the 200-acre College Park master plan area, adjacent to the Chaffey College Chino Campus.
Planned on-site amenities at Ivy II at College Park include a pool, a fitness center, a BBQ area, garden space, useable open space and a community room. The property is designed to be GreenPoint Rated Silver.
Financing for the $41.6 million project is being provided by the City of Chino, National Affordable Housing Trust, Bank of America, N.A., Prudential Mortgage (Freddie Mac Tax Exempt Loan), the California Tax Credit Allocation Committee and the California Debt Limit Allocation Committee. The architect is KTGY Group and the general contractor is Cannon Constructors South, Inc.
Among the expected speakers at the grand opening: Hon. Dennis Yates, Mayor of Chino; Kimberly McKay, BRIDGE Housing Corporation; Stephanie Oliveras, Bank of America, N.A.; Paul Cummings, National Affordable Housing Trust; and Kenji Tamaoki, Prudential Mortgage.
For more information about BRIDGE, visit www.bridgehousing.com.
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