DEPOT AT SANTIAGO TRANSIT-ORIENTED DEVELOPMENT IN SANTA ANA
RECEIVES $3.9 MILLION IN CAP-AND-TRADE FUNDING
AWARDED BY THE CALIFORNIA STRATEGIC GROWTH COUNCIL
SANTA ANA – The Depot at Santiago workforce housing project planned by C&C Development and Orange Housing Development Corporation in Santa Ana has been awarded $3.9 million in cap-and-trade funding by the California Strategic Growth Council. The Depot was the fourth highest ranked “shovel ready” project in the state to receive the funding.
The cap-and-trade award is part of $121.9 million in competitive grants and loans made by the California Strategic Growth Council from the Affordable Housing and Sustainable Communities (AHSC) Fund to 28 housing and transit-friendly infrastructure projects throughout the state that reduce greenhouse gas emissions and help fight climate change. The AHSC Program is a component of the Greenhouse Gas Reduction Fund that finances projects by supporting compact development along transit corridors.
“With the OC Streetcar coming to Santa Ana, this state grant to The Depot at Santiago housing project is validation of our efforts to promote transit-oriented development and a sustainable community,” said Santa Ana Mayor Miguel Pulido, also an Orange County Transportation Authority director.
“The first Streetcar stop is across from the train station and co-locating quality housing choices and employment adjacent to transportation options is the best way to plan for our future.”
In cooperation with the cities of Santa Ana and Garden Grove, OCTA is building the OC Streetcar to connect the Santa Ana Regional Transportation Center (SARTC)
with the City of Garden Gove, providing greater mobility and transportation options to the residents of both cities as well as surrounding communities.
To be developed on a 1.35-acre infill site across the street from the Santa Ana Regional Transportation Center and on the OC Streetcar line, the 70-unit, mixed-use Depot at Santiago is designed for working families with incomes that range from 30% to 60% of area median income (AMI). “Located directly across the street from the SARTC, the location provides for an excellent opportunity to develop high quality, affordable housing directly adjacent to public transportation,” stated the California Strategic Growth Council.
The Depot at Santiago encompasses two principal buildings, which include 14 one-bedroom, 29 two-bedroom, and 27 three-bedroom apartments. The Depot also features a 3,000 square-foot community room, abundant open space, and approximately 8,500 square feet of ground-level retail space. The retail space is located on the ground floor and the retail building opens onto a large, vibrant outdoor plaza for social gatherings, community events and the display of public art.
“This award has filled a substantial gap in our financing structure and allows us to move forward with confidence that we will be able to secure all the funding necessary to develop Depot at Santiago,” said Todd Cottle, principal of C&C Development. “As an affordable housing developer, new funding sources such as cap-and-trade also give us hope for financing of future projects.”
The Depot at Santiago is designed to achieve LEED Gold Certification and will exceed California’s Title 24 energy efficiency standards by at least 30%. The housing development will ultimately be a catalyst for future urban opportunities in the surrounding vicinity and also pave the way for additional new retail outlets within an area that has been historically under served.
Financing for the Depot at Santiago also includes funding from the City of Santa Ana with HOME and CDBG funds, County of Orange MHSA funds, and State of California Infill Infrastructure Grant Program Funds.