IRVINE COMMUNITY LAND TRUST CELEBRATES COMPLETION OF PARC DERIAN

IBC’S NEW WORKFORCE HOUSING DEVELOPMENT

IRVINE, CA, August 2, 2018 – Construction has been completed on the Parc Derian workforce housing property, located at 16201 Derian Ave. near Jamboree and McGaw in the heart of the Irvine Business Complex.  A public/private partnership between the Irvine Community Land Trust, C&C Development, Innovative Housing Opportunities (IHO), Lennar Corporation, the City of Irvine, Parc Derian is the City of Irvine’s newest affordable housing development.


Built on a 2.2- acre urban infill site as part of Irvine’s inclusionary zoning plan, the 80-apartment community features almost a half-acre of open space and residents are served by 5,000 square feet of community space with such amenities as a fitness room, community room, on-site laundry facilities, and secured bicycle storage.  A second-floor exterior podium deck encompasses a tot lot, outdoor barbeque and fireplace pavilion, swimming pool, and a community garden.


This is the second 100 percent affordable housing community built in the Irvine Business Complex, a major economic and job hub for the city. With its location in the Irvine Business Complex, Parc Derian is a truly walkable property near a variety of public transit systems including a Metrolink commuter train, city and county bus lines, and the John Wayne Airport. Designed to bring employees closer to their workplace, Parc Derian is in the center of one of Southern California’s most dynamic business complexes.  The Irvine Business Complex is a 4,000-acre commercial, industrial and residential district with companies that employ more the 90,000 people.

Parc Derian is an excellent example of public-private partnerships working creatively to provide affordable housing for Irvine’s workforce, said Mark Asturias, Executive Director, Irvine Community Land Trust. The Land Trust provides the land that is leased to developers such as C&C Development to build housing that will remain permanently affordable. “Every family and individual deserves to afford a home in their community,” Asturias stated.  “Parc Derian is a tremendous accomplishment for all the partners involved and for the Irvine community. It demonstrates how a city can partner with a home-grown nonprofit such as the Land Trust and a developer to bring permanently affordable housing into the community. By providing homes people can afford, they commute less, spend more time with their family, and give back to the community they live in. Irvine is stronger with affordable housing.”

Ranging in size from approximately 635 to 1,203 square feet, Parc Derian’s one-, two-, and three-bedroom apartments have private balconies and patios and are designed to accommodate large families and special needs individuals with household incomes between 30 percent and 50 percent of area median income (AMI).  Monthly rents range from $527 for a one-bedroom apartment to $1,218 for a three-bedroom unit, significantly lower than monthly rents for comparable market-rate apartments in the Irvine area.

The stylish apartments include dining rooms, large kitchens furnished with stoves and refrigerators, and central air. They also incorporate sustainable design elements and practices, such as drought tolerant landscaping, installation of energy efficient HVAC systems and water heaters, and Energy Star appliances.

Parc Derian had 2,000 households on its rental interest list from which the 80 households were selected by lottery and all moved in within 30 days.  Twenty percent of the apartment units were designated for veterans.

“Parc Derian underscores our mission to design and build affordable housing that is indistinguishable from market-rate housing and provides a secure and comfortable environment for families and individuals that improves their lives and lifestyle,” said Todd Cottle, a C&C Development principal.  “Design and quality of craftsmanship that is represented by Parc Derian play an important role in our properties, especially in inclusionary zoning environments such as the City of Irvine.”

To provide housing for residents with special needs, C&C Development and IHO partnered with Families Forward to set aside apartments that are designed for family households which are experiencing homelessness or are at risk of homelessness.  Families Forward assists people in crisis to achieve and maintain self-sufficiency through housing, counseling and education.

C&C and IHO also partnered with the Regional Centers of Orange County and United Cerebral Palsy to set aside apartments for developmentally disabled residents.  The organizations help residents with disabilities reach their full potential, improve their quality of life, and foster an attitude of acceptance and inclusion.

Residents will further benefit from social services such as health and education enhancement programming offered by Lighthouse Community Center and IHO that provides life enriching experiences to help Parc Derian families grow stronger, and to assist adults and youth in improving and transforming their lives.

Reflecting the urban character of its surrounding neighbors, Parc Derian is a four-story, podium-designed structure featuring contemporary architecture that incorporates urban inspired elements and finishes and is designed to achieve a LEED Gold certification.  It utilizes sustainable building methods such as Low E energy conserving windows, water saving plumbing fixtures, and LED lighting throughout the property.  Residents will realize tangible utility savings from the energy efficient design, Cottle noted. The site exterior is landscaped with drought tolerant trees and shrubs to reduce water usage, provide aesthetic value, natural shade, and to aid in the retention of water runoff. 

Financing for Parc Derian consists of Low Income Housing Tax Credit funding through the California Tax Credit Allocation Committee (TCAC), a construction loan provided by Bank of America, and a permanent loan through the California Community Reinvestment Corporation.  Additional financing was invested by the City of Irvine and Lennar Corporation.  KTGY Group is the project architect and Advent Companies is the general contractor.

IRVINE COMMUNITY LAND TRUST

The Irvine Community Land Trust (ICLT) was created in 2006 by the City of Irvine to provide secure, high-quality permanently affordable housing. The vision of the ICLT is that by the year 2025, the ICLT will have created approximately 5,000 units of permanently affordable housing in the City of Irvine, contributing more than 50 percent of the City’s 2025 goal of 9,700 affordable units. The ICLT will achieve its mission through the operation of a non-profit community land trust, securing and retaining title to land on which permanently affordable rental, ownership and special needs housing will be constructed and maintained for the benefit of income-eligible families. Learn more by visiting www.irvineclt.com.

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