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Section 2. About Eden Housing Application | Parrott Street Apartments <br />September 2017 <br /> 10 <br />Ashland Village <br />1300 Kentwood Lane, San Leandro | Affordable Family Housing <br /> <br />Ashland Village was acquired by Eden Housing in 2009 in order to <br />preserve its long‐term affordability and improve the quality of life of <br />the residents. Ashland Village is a 143‐unit affordable apartment rental <br />community serving low‐income families and consists of nine two‐story <br />buildings. The renovated development includes unit upgrades, new <br />roofs and other exterior upgrades that provide better security on site, <br />new play areas, and accessibility and landscaping improvements. <br /> <br />In addition, a new community building with management offices and a <br />computer lab was built that provides a gathering space and a place for <br />Eden to provide vitally needed community programs (pictured above). <br /> <br />The property was originally built in 1984 and had a HUD Housing <br />Assistance Payment (HAP) operating subsidy contract that was <br />scheduled to expire. In re‐financing the development, funding included <br />County of Alameda redevelopment and HOME loans, Multifamily <br />Housing Program loan funds from the state Housing and Community <br />Development Department, syndication of low income housing tax <br />credits to an investor, and conventional financing leveraged from the <br />projects' net operating income including the incremental Section 8 <br />income from a new 20‐year HAP contract. <br /> <br /> <br />  <br />YEAR ACQUIRED: <br />2009  <br />  <br />YEAR REHAB COMPLETED: <br />2010  <br /> <br />TOTAL REHAB COST: <br />$33,961,875  <br />  <br />UNITS: <br />143  <br />  <br />TARGETED INCOMES: <br />30-60% of AMI  <br />  <br />DEVELOPER: <br />Eden Housing, Inc.  <br /> <br />ARCHITECT: <br />Weir/Anderson & Associates  <br />  <br />CONTRACTOR: <br />D & H Construction, Inc.  <br />59