City of Irvine Housing Program June 5, 2015

Housing Overview City of Irvine Housing Strategy & Implementation Plan Adopted in 2007 Established Vision Statement: By the year 2025, The City of Irvine will have a full spectrum of housing types to meet the shelter needs of all income groups and special needs populations in all stages of life. Goal of establishing 10 percent of all housing as affordable Create nonprofit Irvine Community Land Trust

City Housing Policies Address housing opportunities for all residents. Aspire to permanent affordability and disbursement of homes throughout City. Encourage housing for extremely low-income households and persons. Provide financial and non-financial opportunities.

Includes Priorities Facilitate development of additional rental housing. Create equity-building opportunities for first-time homebuyers by facilitating the renter-to-owner transition process and increasing the amount of for- sale affordable housing. Partner with Irvine’s colleges and universities to create additional faculty and student housing.

Includes Priorities cont. Develop housing for special needs groups (including, but not limited to, youth, seniors, single parents, developmentally disabled, SROs, supportive/transitional housing, veterans and mobile home parks). Preserve existing affordable housing. Reduce frequency and duration of homelessness.

Affordable Housing is hard to do; How is the City Succeeding? The City works with the private development community to provide affordable housing through loan programs and development incentives. In exchange, developers agree to set aside units that will be affordable for at least 55 years. These programs and incentives have been very successful and many people would be surprised to know: today there are over 3,300 affordable homes scattered throughout the City We have hundreds of new units planned and/or under construction

How does Affordable housing add to the Livability of a city? Affordable housing gives residents the chance to live within the community where they can stay close to family and work. Reducing time on the road gives residents the opportunity to do more with their family and also with the community through participation in various organizations. Young people starting out can move into affordable rental units, older residents who are downsizing and looking for affordable rental opportunities can stay close family and friends.

Irvine’s Affordable Housing is Placed in Vibrant Neighborhoods Irvine’s Affordable Housing is Placed in Vibrant Neighborhoods. What is our Strategy? The City requires homes to be scattered throughout neighborhoods as well as within individual projects. The City also encourages a variety of housing to meet the needs of: families, single people, the disabled and seniors. Each affordable home is required to be built to the same high quality standard of a market rate home.

Inclusionary Housing Ordinance Applies to new housing construction Total of 15 percent must be affordable Addresses three income groups: Very low (50 percent of area median income) Lower (80 percent of area median income) Moderate (120 percent of area median income)

Density Bonus City Ordinance also implements state Density Bonus law: Developers must provide percentage of units as affordable Law requires minimum 55 years of affordability In exchange developers get increased market rate units May also qualify for incentives

Who Qualifies for Affordable Housing? Income Category 1 Person 2 People 3 People 4 People Extremely Low (30%) 20,250 23,150 26,050 28,900 Very Low (50%) 33,750 38,550 43,350 48,150 Lower (80%) 53,950 61,650 69,350 77,050 Median (100%) 61,050 69,750 78,500 87,200 Moderate (120%) 73,250 83,700 94,200 104,650

2015 Very Low-Income Affordable Rent Bedrooms Gross Monthly Rental Payment   1 bedroom $ 871.88 2 bedroom $ 981.25 3 bedroom $ 1,090.00

2015 Low-Income Affordable Rent Bedrooms Gross Monthly Rental Payment   1 bedroom $ 1,046.25 2 bedroom $ 1,177.50 3 bedroom $ 1,308.00

2015 Moderate-Income Affordable Rent Bedrooms Gross Monthly Rental Payment   1 bedroom $ 1,918.13 2 bedroom $ 2,158.75 3 bedroom $ 2,398.00

Where is affordable housing?

IBC Mixed Use Areas

Irvine Notable Development Irvine Notable Development Jeffrey Open Space Trail Stonegate and Cypress Village (adjacent) extensions Irvine Notable Development Pending, Approved or Under Construction Winter 2014/2015 Irvine Notable Development Pending, Approved or Under Construction Winter 2014/2015 Orchard Hills 372 dwelling units remaining entitlement 2,992 units 1 Portola Springs 231 dwelling units remaining entitlement 2,141 units 24 Portola Springs Apts 694 dwelling units 24 Alegre Affordable Apartments 104 dwelling units (Irvine Community Land Trust) 2 Eastwood grading remaining entitlement 1,900 units 25 2851 Alton 170 dwelling units 3 Stonegate 62 dwelling units remaining entitlement 557 units 26 2801 Kelvin 381 dwelling units 4 Great Park Neighborhoods 358 dwelling units (Pavilion Park) 27 17000 Millikan 156 dwelling units 5 17275 Derian Apts 80 dwelling units 6 remaining entitlement 8,540 units 3.31m s.f. non-residential 28 1 Pistoia Apts 371 dwelling units 7 Cypress Village 468 dwelling units remaining entitlement 997 units 29 2501 Alton 344 dwelling units 8 24 25 26 27 Avella Apts 485 dwelling units 30 Metropolis Condominiums 457 dwelling units 9 Edwards Life Sciences 36,000 s.f. R&D Facility 10 PA 40 East Apts 536 dwelling units 31 28 Hyatt House 149 room hotel 11 OC Great Park ALA II Plan 688 Acres 32 31 Irvine Gateway 434 dwelling units 12 2 29 30 32 Broadcom Campus 1.1 m s.f. office remaining entitlement .9 m s.f. office 33 2525 Main 272 dwelling units 13 33 Spectrum Residential 766 dwelling units remaining entitlement 584 units 34 Elements 1,600 dwelling units 14 37 38 34 36 360 Fusion 280 dwelling units 15 35 Los Olivos 115,000 s.f. retail remaining entitlement 1,900 units 35 Hilton Garden Inn 170 room hotel 16 8 5 3 10 200 Spectrum Center Dr 450,000 s.f. office 36 Central Park West 40 dwelling units remaining entitlement 597 units 17 12 40 6 7 4 15 400 Spectrum Center Dr 450,000 s.f. office 37 13 11 9 Park Place 176 room hotel 520 dwelling units, remaining entitlement 267 units 18 22 16 39 18 Shady Creek Medical Center 157,000 s.f. office 38 17 23 21 19 Concordia University campus improvements 39 IRWD Bio-Solid Facility 19 20 14 Campus Residential 876 dwelling units 20 Hidden Canyon 6 dwelling units remaining entitlement 252 units 40 Milani Apts 287 dwelling units 21 Entitlement Plan Under Construction Main-Jamboree 388 dwelling units 22 23 Tides Hospitality Hotel 164 room hotel Revised 2/26/2015

New Projects Alegre Apartments (3100 Visions Street) 104 affordable units (100%) Alton & Millikan (16931 Millikan Avenue) 17 affordable units (Inclusionary) Avalon Jamboree Phase III (16952 Millikan Avenue) C&C Development (17275 Derian) 80 affordable units (100%) Elements (2525 Campus) 70 affordable units (Inclusionary)

New Projects cont. Kelvin & Jamboree Partners (2801 Kelvin) 38 affordable units (Inclusionary) Metropolis (2500 Main Street) 47 affordable units (Inclusionary) Modera Irvine (2850 Kelvin Avenue) 20 affordable units (Inclusionary) Solaira Senior Apartments (Ridge Valley/Irvine Blvd) 221 affordable senior (100%) 360 Fusion (17321 Murphy Avenue) 29 affordable units (Inclusionary)

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