MARTINEZ, CALIF. - Nonprofit developer Resources for Community Development (RCD) and KTGY Group, Inc., Architecture and Planning, are proposing to contribute to the renaissance of Martinez's downtown area. Using the inspiration of the local architecture, the latest in green building technologies and design, and answering the strong demand for high quality affordable housing for seniors, RCD is in negotiations to purchase 1.03 acres at 310 Berrellesa Street in Martinez in order to build Berrellesa Palms. Designed by KTGY, Berrellesa Palms is a proposed environmentally- and pedestrian-friendly, transit-oriented community, which would provide 48 one-bedroom apartments (plus an on-site manager's unit) for active seniors 55 years of age and over, with rents at levels affordable to working as well as retired individuals and couples.
Berrellesa Palms is estimated to represent an $18.5 million public/private investment in the City of Martinez's downtown neighborhood, $13.7 million of which is private equity or conventional debt. In addition, a $10.2 million conventional construction loan is anticipated.
"RCD and their team have an excellent track record of providing architecturally superior buildings that bring much added value to the communities they are a part of," says Bob Glover, Executive Director, Eastern Division for Home Builders Association of Northern California and former City of Martinez Planning Commissioner. "I am delighted that RCD is willing to make such a huge financial investment in downtown and, at the same time, provide a much needed housing type for our aging population. I look forward to this project providing a catalyst to get others to invest in our downtown."
Berrellesa Palms' community amenities will include a large multi-purpose meeting/community room, library, computer center, exercise room, and resident support services such as social gatherings and events, educational workshops and classes. The design also includes a lushly landscaped patio, a courtyard garden and raised planting beds for residents. "The development of Berrellesa Palms would provide area seniors with an opportunity to enjoy high quality new homes conveniently located within walking distance of downtown retail and commercial services and mass transit," says Jill Williams, AIA, principal at KTGY, based in Oakland, Calif.
RCD's Associate Director of Housing Deni Adaniya says, "As with most of RCD's recent developments, Berrellesa Palms will be designed to achieve a GreenPoint Rating or LEED Certification. Environmental responsibility, a healthy indoor environment and sustainability are core values in the design of our properties."
Rents at Berrellesa Palms are expected to range from approximately $270 to $770 per month (depending on household size and income). Most households will pay no more than 30% of their income toward rent and utilities leaving the majority of income available for other expenditures, investments and savings.
"It is our goal to contribute to the renaissance of Martinez's downtown area and be the stepping stone to future market rate development," says Adaniya. "Revitalization and new starts are what we are about at RCD, both for our residents (as many move onto homeownership) and for the communities and neighborhoods we serve."