Pinole Sees Renewal of Affordable Homes for Seniors
PINOLE, CA, April 26, 2013—The City of Pinole will celebrate the rededication of Pinole Grove Senior Housing today at 800 John Street. The event begins at 11 am with a short speaking program followed by a ribbon-cutting ceremony and refreshments.
Pinole Grove, which serves very-low-income seniors, consists of four buildings in a Mission Revival-style that complements the surrounding neighborhood. Nonprofit developer, owner and property manager BRIDGE Housing recently completed a substantial 14-month renewal of the 70-unit property, which was originally built in 1994.
BRIDGE’s Portfolio Management Team made expected useful-life replacements of building systems, enhanced the physical condition of the buildings and “greened” the development. In common areas as well as in the apartments, BRIDGE replaced the heating, cooling and domestic hot water systems, lighting and about two-thirds of the windows with higher-efficiency models. Residents benefit directly in terms of comfort and indoor air quality. In addition, a new system filters gray water from the laundry room, which is used to irrigate approximately 30% of the plantings.
Most dramatically, the project added a new solar photovoltaic system, solar thermal carports and a pavilion to the site. These will have huge environmental and financial benefits – for example, the solar PV will offset the power consumed by 20-25 single-family homes, and this savings directly contributes to keeping rents affordable to residents for the long term, allowing them to age in place.
“These innovations, which were not really seen in affordable housing 20 years ago, will help keep Pinole Grove operating efficiently, affordably and sustainably for years to come,” said Cynthia A. Parker, BRIDGE President and CEO. “As community partners and stewards of affordable housing, we are extremely committed to maintaining quality over time.”
“We’re pleased that the rehab has enabled us to launch resident programs at the property, including a first aid class and, in the near future, a computer class,” added Ms. Parker. “In our experience, these programs meet the needs of our seniors by encouraging lifelong learning and social interaction with neighbors.”
BRIDGE restructured Pinole Grove’s existing debt and recapitalized the project, including a 4% tax credit resyndication plus bonds. The overall reinvestment of approximately $9 million in Pinole Grove—which also included new CDBG funds from Contra Costa County and continued support from the City of Pinole—allowed staff to renew the property and prepare it for the next two decades of service. BRIDGE’s financial partners included Contra Costa County, the City of Pinole, Wells Fargo Bank, the Federal Home Loan Bank of San Francisco (AHP) and the California Community Reinvestment Corporation.
The architect for the rehab was Ferrari Moe, and the general contractors were RE West Builders, Luminalt Energy Corporation, and Frank & Grossman Landscape Contractors.
Expected speakers at the rededication include Contra Costa County Supervisor John Gioia, Pinole City Councilmember Roy Swearingen, Pinole Grove resident Dorothy Walker, Jeff Bennett of Wells Fargo, Steve Cibull of the Federal Home Loan Bank of San Francisco, and Ann Silverberg of BRIDGE Housing.
For more information about BRIDGE Housing, visit www.bridgehousing.com.
Editors: An image of Pinole Grove Senior Housing is available; please contact Lyn Hikida to request.