Sunday, September 21, 2014

Meta Housing Corp. Completes $32.4 Million Senior Housing Project in San Clemente, CA


Kasey Burke
SAN CLEMENTE CA – Meta Housing Corporation has announced the completion of the $32.4 million Cotton’s Point Senior Apartments, a 76-unit, affordable housing community for seniors aged 62+ in the seaside community of San Clemente, Calif.

“This new development delivers much-needed affordable housing to the City of San Clemente,” said Kasey Burke, President of Meta Housing Corporation.

“With the support of the City and County, we were able to transform a blighted, abandoned restaurant on an underutilized lot into a beautiful, amenity-rich community that will significantly enhance the vitality of the City of San Clemente.”

The property is located at 2358 N. El Camino Real, San Clemente, Calif.  The community began leasing in June of 2014, and is 95 percent occupied. 

Western Community Housing acted as both a co-developer and a general partner for the project. Public sector financing for the new development was provided by the City of San Clemente, which contributed $3.016 million to the project; the County of Orange, which contributed $1.654 million; the Mental Health Services Act (MHSA) program, which contributed $1.622 million; the State of California Multi-Housing Program (MHP), which provided $5.480 million; and the Federal Home Loan Bank of San Francisco’s Affordable Housing Program (AHP), which provided $760,000.

 Cotton’s Point Senior Apartments was designed in a Spanish Colonial Revival-style by YM Architects, and delivers scenic views of the ocean and a nearby golf course.

 Located on a hillside near the Interstate 5 freeway, the project is adjacent to a steep riparian ravine, which created some initial design and construction challenges, according to Meta Housing Project Manager Tim Soule.

“Two distinct challenges emerged based on the site location that required deep development expertise to circumvent,” Soule explained.  “The first was the property’s height, which needed to remain low in order to ensure that other properties in the neighborhood retained their ocean views.”

For a complete copy of the company’s news release, please contact:

Lexi Astfalk/ Jenn Quader
Brower, Miller & Cole
(949) 955-7940



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