San Diego Celebrates Grand Opening of Celadon at 9th & Broadway: 250 Affordable Apartments in a Downtown High-Rise

SAN DIEGO, CA, May 1, 2015—Nonprofit BRIDGE Housing and its partners will mark the grand opening of Celadon at 9th & Broadway today, with a ribbon-cutting ceremony slated for 11:45 am. The event takes place at 929 9th Avenue, San Diego.

Located on a former parking lot in a redeveloping urban area, Celadon at 9th & Broadway includes 250 affordable rental apartments and embraces a multigenerational population with services and ground-floor retail. Of the 250 units, 25 are reserved for youth aging out of foster care and adults under the Mental Health Services Act (MHSA) program and 63 apartments will serve frail seniors under the Program of All-Inclusive Care for the Elderly (PACE).

The apartments of the 17-story high-rise are affordable to residents with annual incomes of up to $37,920 for a two-person household. Monthly rents range from approximately $533 to $879, depending on factors such as income, household and apartment size.

Residents have access to a great room, two laundry rooms and numerous outdoor spaces, including barbecues and a resident garden. The property also features a supportive services office and meeting room. Celadon, designed to achieve LEED Silver Certification, has highly efficient mechanical systems and an eco-roof with drought tolerant plantings. The143-foot-tall solar photovoltaic system, built as a vertical façade on the south side of the building, is the tallest electric solar system of its kind in the country.

“We are thrilled to bring this volume of affordability and resident services to downtown San Diego,” said BRIDGE Housing President and CEO Cynthia A. Parker. “It required persistence, complex financing and incredibly committed partners, and we couldn’t be more proud to deliver this one-of-a-kind property to the community.”

“Celadon at 9th & Broadway satisfies the goals of a cohesive urban community,” said Ernesto Vasquez, FAIA, NCARB, Partner & CEO of SVA Architects. “It offers much-needed, intergenerational, affordable housing, and easy access for residents to connect with the downtown community and its numerous amenities. Celadon is only blocks away from mass transit, and is a pivotal project in supporting growth around the ballpark. It was designed to achieve LEED Silver Certification, and we expect it will be one of downtown San Diego’s signature high-rises for years to come.”

“There’s tremendous need for affordable housing nationwide but that need is amplified in San Diego, one of the most expensive rental markets in the country. BRIDGE Housing is one of the most highly respected affordable housing developers in California and the Pacific Northwest and we’re proud to partner in bringing Celadon at 9th & Broadway to life,” said Lisa Gutierrez, vice president with U.S. Bank.

Financing for the $74.3-million property is being provided by US Bank, US Bank CDC, City of San Diego/Civic 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 was SVA Architects, Inc., the design architect was Studio E Architects, and the general contractor was Turner Construction Company.

Expected speakers for the grand opening include San Diego City Councilmember Todd Gloria; Reese Jarrett, Civic San Diego; Mark Stivers, California Tax Credit Allocation Committee; Lisa Gutierrez, US Bank; Rick Gentry, San Diego Housing Commission; Stephen Traynor, Federal Home Loan Bank of San Francisco; Piedad Garcia, County of San Diego; Rick Holliday, BRIDGE Housing Board Chair; and Cynthia Parker, Kim McKay and Aruna Doddapaneni of BRIDGE Housing.

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BRIDGE Housing