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Commuter college no more? Here comes housing for 4,000 students near Sac State

Developers plan to build housing for 4,000 Sacramento State University students near Highway 50 and Folsom Boulevard, creating a new “university village” south of the campus, and reducing student commutes and traffic and parking woes.

It’s an annual college rite. But not a good one. When Sacramento State opens its doors next week for the fall semester, most students will arrive in cars, commuting to a campus and surrounding area long known for lack of student housing.

That may soon change in a big way.

Read the article in the Sacramento Bee.

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AMCAL Equities’ Student Housing Community in Turlock Achieves LEED Silver Certification

New student housing community across from Stanislaus State University achieves leading “green” status

Agoura Hills, CAAMCAL Equities, LLC announced today (June 25, 2018) that its newest student housing community, The Vista in Turlock, California, has been awarded LEED Silver certification. The LEED (Leadership in Energy and Environmental Design) rating system, developed by the U.S. Green Building Council (USGBC), is the foremost program for buildings, homes and communities that are designed, constructed, maintained and operated for improved environmental and human health performance.

The eco-friendly, LEED silver designed property, which opened in summer 2017, is a purpose-built student residential complex with 660 beds/180 units located at 900 W. Monte Vista Ave., Turlock, CA 95382, is directly across the street from the California State University, Stanislaus (CSUS) campus. The Vista is situated on three parcels totaling approximately 9.7 acres with three four-story buildings including a 6,460-square-foot fully-loaded club house that features outside volleyball and basketball courts, and a resort-style swimming pool.

“The work of innovative building projects such as The Vista is a fundamental driving force in transforming the way buildings are built, designed and operated,” said Mahesh Ramanujam, president and CEO, USGBC. “Buildings that achieve LEED certification are lowering carbon emissions, creating a healthier environment and reducing operating costs while prioritizing sustainable practices. Because of The Vista, we are increasing the number of green buildings and getting closer to USGBC’s goal to outpace conventional buildings, while being environmentally and socially responsible and improving the quality of life for generations to come.”

The Vista project received a 6 out of 6 rating in the alternative transportation – public transportation access category for its proximity to public transportation ensuring ease of commuter access, and achieved high ratings in other categories including development density and community connectivity and alternative transportation – low-emitting and fuel-efficient vehicles.

“AMCAL has a history of locating the communities we develop close to urban hubs to make sure residents can easily access community amenities,” says Percy Vaz, AMCAL’s CEO. “We are particularly proud to have received LEED certification on the second student housing community we have completed, and will continue to pursue high green standards in our projects. Green building helps achieve excellent performance in key areas of human and environmental health. Each new LEED certification is one step closer to revolutionizing the environment in which live, work, play and study.”

Projects pursuing LEED certification earn points across several categories, including energy use and air quality. Based on the number of points achieved, a project then earns one of the four LEED rating levels: Certified, Silver, Gold or Platinum.

AMCAL has earned LEED status for several of its projects including five Platinum, eight Gold, four Silver (including The Vista), and three Green Point certifications. AMCAL has built to LEED Silver certification since 2007, well ahead of industry adoption.

In addition to The Vista, AMCAL is set to open two new student-programmed communities near CSU campuses in Chico and Sacramento this summer, and is currently constructing a 260 unit/1,039 bed off-campus student housing project located on a 1.5-acre site within one block of San Jose State University (SJSU) in San Jose, California, to be completed in 2020.

Read more about The Vista’s green rating at this link: https://www.usgbc.org/projects/vista

About AMCAL Equities, LLC Founded in 1978, the AMCAL group of companies is one of the nation’s leading housing development companies, developing quality rental and ownership residential properties throughout California and Texas, including affordable housing, luxury apartment housing and student housing. AMCAL has developed more than $1.5 billion in multifamily housing and market-rate apartment projects consisting of more than 6,500 units. The value of AMCAL developments currently under construction exceeds $1 billion. AMCAL is headquartered in Agoura Hills, CA and maintains offices in Orange County, and West Los Angeles, California, and Dallas, Texas. For more information on AMCAL, please visit: https://amcalhousing.com.

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AMCAL Serves as Title Sponsor for the California Housing Consortium’s Policy Forum & Housing Hall of Fame Awards

AMCAL was proud to serve as the title sponsor for the 2018 California Housing Consortium’s Policy Forum & Housing Hall of Fame Awards in Santa Monica on May 11, 2018. It was wonderful for us to connect with friends and colleagues–old and new. Here was a great moment during the festivities with (L to R): Percy Vaz, Dana Mayo, Mary Kaiser and Lux Vaz.

CHC’s 2018 program featured an interactive federal policy discussion, an insightful look into the Terner Center on Housing Innovation at UC Berkeley’s LIHTC Resident Survey findings, a 2017/2018 California legislative update by two housing champions from the California Assembly and a thoughtful keynote speech from United States Senator Mike Crapo of Idaho.

The day started with a federal policy update from by David Gasson from Boston Capital. David spoke of tax reform, the Omnibus and a Congress in flux, covering what has happened recently and what lies ahead for federal affordable housing policy.

Carolina Reid from the Terner Center on Housing Innovation at UC Berkeley presented findings from their LIHTC Resident Survey, titled ‘Why Affordable Housing Works For Those We Serve.’ She shared how LIHTC promotes housing stability, economic mobility and improved educational outcomes for children.

This year’s honorees were:

Public Sector – U.S. Senator Mike Crapo, Assemblymember Richard Bloom, Assemblymember David Chiu

Non-Profit Sector – Cesar Covarrubias, The Kennedy Commission

For-Profit Sector – Michael Costa, Highridge Costa Companies

Lifetime Achievement – Mary Murtagh, EAH Housing

Thanks to all who attended and congratulations to those who were honored.

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New York Times mentions AMCAL’s Meridian community in affordable housing article

New York Times reporter Emily Badger featured information in her recent article about the national affordable housing crisis. AMCAL’s Meridian community in Koreatown / Los Angeles received a mention.

SAN FRANCISCO — For $1,200 a month, Patricia Torres and her family were renting a bedroom, a share of time in the bathroom, one vegetable drawer and one shelf in the fridge, and two cupboards over the stove. They rented not so much a home as a fraction of one.

Karen Calderon had even less: a single room in a homeless shelter where she was not allowed so much as a hot plate to cook for her family.

Read the article here.

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AMCAL’s Los Angeles – Florence Project is Featured

In unincorporated Florence, AMCAL Multi-Housing Company has proposed redeveloping a County library as part of a mixed-use affordable housing complex.

The project, slated for a one-acre site at 1600-1616 E. Florence Avenue, would create a five-story building featuring 116 units of senior affordable housing, as well as a replacement library at its ground floor.

VTBS Architects is designing the building, which would rise one block west of the Blue Line’s Florence Station.

The $51-million project is seeking approximately $7 million in County funding.

Read more of the article in Urbanize.la.

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AMCAL Receives 40th Anniversary Commendation from the City of Los Angeles

AMCAL is happy to have received a special commendation from City of Los Angeles Mayor Eric Garcetti on AMCAL’s 40th Anniversary. It reads:

On behalf of the City of Los Angeles, I am pleased to extend congratulations to Percy and Lux Vaz, upon the 40th anniversary of AMCAL. With recognition of the various contributions made to Affordable, Student and Market Rate over the past 40 years. I commend your strong work ethic to service and to always placing the community first.

 

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AMCAL Secures #7 Spot on List of Top 50 Affordable Housing Developers of 2017

Rising to the 7th spot in this year’s Top 50 Affordable Housing Developers as ranked by Affordable Housing Finance Magazine, AMCAL Multi-Housing, Inc. boosts its 47th spot ranking from last year.

Read more here.

It still looks to be a glass-half-empty kind of year for affordable housing developers, writes Deputy Editor Donna Kimura, in her recent article “Cautious Optimism” in the April/May 2018 issue of Affordable Housing Finance magazine. Kimura goes on to write: They anticipate a better but tough road ahead in 2018. Even with the uncertainty of tax reform behind them, more than 48% of recently surveyed developers expect housing finance conditions to worsen by the end of the year. About 31% say conditions will improve, and 20% say they’ll be about the same.

Read more here.

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AMCAL Secures Financing for Two Developments

AMCAL Multi-Housing and AMTEX Multi-Housing have taken big steps toward developing workforce housing communities in Santa Ana, Calif., and Austin, Texas.

William Hezmalhalch Architects Designed by William Hezmalhalch Architects, First Street Apartments in Santa Ana, Calif., is scheduled to be completed by developer AMCAL Multi-Housing in September 2019.

In partnership with the city of Santa Ana, AMCAL Multi-Housing announced that it closed financing on a new 69-unit apartment community in Santa Ana. Bank of America Merrill Lynch is serving as the equity investor as well as the construction and permanent lender for the project. Construction will commence at the site in May with the demolition work of an existing deteriorating office building.

Read more about this here.

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AMCAL Receives Prominent “Powering the Future” Award

AMCAL received the prominent “Powering the Future” Award on March 24 at Sacramento’s Power Inn Alliance 24th annual award luncheon for its Sacramento student housing project “The Crossings.”
This award is given to the person, persons and/or company who played the most significant role in changing the direction of the district by creating a vision to move the area forward.

It could be given to a catalyst project, a significant investment to one of the Alliance’s key tenets. This year, it was given to AMCAL Equity, LLC’s CEO Percy Vaz.

City of Sacramento: In 2008, the Alliance and the City began work on a Specific Plan that would become the designated Sacramento Center for Innovation (SCI). That plan was ratified by City Council in 2013 and the City has been working with the Alliance and community leaders to bring its vision to life.

AMCAL: AMCAL, one of the nation’s most successful multi-family developers, understood the impact and opportunity in bringing The Crossings student housing project to life. AMCAL’s vast experience in quality design and construction, and their commitment to excellence makes them an ideal partner on this catalytic development within the SCI. Coleraine Capital: Coleraine Capital was the initial real estate partner in identifying The Crossings site, near the Ramona Avenue road extension project. They saw the potential in creating a much-needed niche student housing project, with a focus on amenities and innovation.

The luncheon highlighted important area updates, and guests heard from Mayor Darrell Steinberg and Councilmember Eric Guerra, and Keynote Speaker, Bill Gaines, as he talked about the Importance of Manufacturing in the Community and the Role of the Workforce. Community award winners were announced, as well: 2018 Powering the Future Award – The Crossings and Ramona Ave Extension (City of Sacramento, AMCAL, and Coleraine Capital) 2018 Power Partner Award – Procter & Gamble 2018 Tom Burress Community Service Award – The Cannabis Planning and Development ad hoc subcommittee (Burnie Lenau, Lawnman, Inc; Dennis Shanahan, Shanahan’s Auto Body; Mike O’Brien, Mark III Construction; and Bernardo Hubbard, Jackson Properties)

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