Ground Breaking: Affordable Housing for Families in Claremont

Supportive housing development to help those experiencing homelessness in Claremont

CLAREMONT, CA, USA, April 17, 2024 /EINPresswire.com/ -- Jamboree Housing Corporation will host a groundbreaking celebration marking the start of construction for Larkin Place, a 32-unit supportive housing development in Claremont. Targeted towards individuals earning 30% of the AMI in Los Angeles County, the development addresses the critical need for housing for those experiencing chronic homelessness.

“The new beginning we celebrate today is the result of intrepid local housing champions who worked tirelessly to make the vision of a supportive community come to life,” says Jamboree CEO Laura Archuleta.

One of those champions is Claremont City Council member Jed Leano, who chairs the San Gabriel Valley Regional Housing Trust (SGVRHT). “SGVRHT played a significant role in developing Larkin Place,” he adds. “Thanks to Congresswoman Judy Chu’s support, we were able to contribute $3 million to this vital project designed to provide opportunity, stability, and growth for its residents.”

Key funding and support for Larkin Place also came from the Los Angeles County Development Authority (LACDA). In fact, Larkin Place is the second LACDA-funded housing development located in the City of Claremont. “Investments like this are sorely needed throughout the County,” says LACDA Exec Director Emilio Salas. “We are especially proud to be part of this effort as it has the needs of residents top of mind –Larkin Place will not only offer on-site amenities but is also located close to public transit, schools, parks, grocery stores, and healthcare facilities.”

When completed in 2025, the four-story building at Larkin Place will feature eight studios, 24 one-bedroom apartments, and a two-bedroom manager’s unit. In addition to amenities including a community room and BBQ area, Larkin Place provides residents with access to a range of on-site services, including case management, peer support, individual and group therapy, recovery support, and help in building life skills. Wrap-around supportive services such as these are essential to building a permanent path out of homelessness.

Funding partners like U.S. Bancorp Impact Finance (a subsidiary of U.S. Bank), which provided $10.9 million in equity and a $13.1 million construction loan, played a key role in developing Larkin Place. “We believe everyone deserves a place to call home,” says U.S. Bancorp Impact Finance Affordable Housing Relationship Manager Chuck Sinkey. “We are pleased to collaborate with Jamboree once again to help provide more affordable housing in Los Angeles County and help build a foundation of financial stability for Larkin Place residents.”

Josh Hamilton, Senior Vice President of Lending at Century Housing Corporation, another provider of crucial funding, adds, “Century is honored to work with our longtime client and partner, Jamboree Housing, to bring new supportive homes to Claremont’s most vulnerable residents. Jamboree’s commitment to this cause has made them a wonderful ally in our shared mission of providing high-quality affordable housing services for our neighbors in need.”

Larkin Place is Jamboree’s second affordable housing development in Claremont. The first, Courier Place, was built in 2011 and added 74 high-quality affordable apartments for low-income families and seniors.

Event Details
When: Wednesday April 17, 2024
10 - 11:30 AM

Where: 731 Harrison Ave.
Claremont, CA 91711

Press Parking:
Claremont Friends Meeting Center
727 Harrison Ave, Claremont, CA 91711

About Jamboree Housing Corporation
Jamboree Housing Corporation (Jamboree) is an award-winning, broad-based nonprofit housing development company that develops, acquires, renovates, and manages permanently affordable rental and ownership housing throughout California for 20,000+ residents -- working families, seniors, and people with special needs. Founded in 1990 and headquartered in Irvine, CA, Jamboree is a leading community development organization committed to sustaining excellence with high quality affordable housing that benefits the environment, economy and local communities. Jamboree currently oversees $1.5 billion in affordable housing projects in its development pipeline as part of a $3.2 billion asset portfolio including the development of and/or ownership interest in more than 10,000 affordable homes in more than 100 California communities. Resident services with designated staff that foster learning, health and wellness, and community building are offered onsite at many Jamboree properties. Visit www.jamboreehousing.com to learn more.

Briana Gallo
PRxDigital
+1 408-838-3705
briana@prxdigital.com
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