California Community

Mercado, Perris (Riverside Co.)

Mercado

Mercado is a centerpiece of the new Downtown Specific Plan Area. The 2.5-ac. redevelopment site will include 60 family apartments (24 dua), and the design will include a collonade along D Street with a traditional Spanish/Mediterranean exterior.

An allocation of $7,286,000 in 9% Low-Income Housing Tax Credits was awarded in 2010. The RDA awarded the RFP to AMCAL and funded $6,832,000.

The site is located near a RCTC bus line and the Perris Metrolink Station, Mercado Park, a health clinic and a market.

Construction is three levels of Type V with 120 spaces of surface parking. Solar panels will be installed on the carports. Amenities include a large community room with a computer lab, pool, barbecue areas, children’s playground and bicycle storage.

100% affordable:
6 units – 30% AMI
15 units – 45% AMI
38 units – 50% AMI
14 units – 60% AMI

Click Here for LEED Details (PDF)

Year Built

2012

Type

Family

No. Units

60

Total Cost

$15,001,000

Developer

AMCAL Multi-Housing

Contractor

AMCAL General Contractors

Architect

Withee Malcolm

Financing

Equity

$6,412,000
Union Bank

Construction

$6,887,000
Chase

Permanent

$1,758,000
California Community Reinvestment Corp.

Agency

$6,832,000
City of Perris RDA

Non-Profit

Las Palmas Foundation