Under Construction – Ramona Avenue Extension in Sacramento Will Link AMCAL’s Student Housing Community to Sac State

Groundbreaking ceremony photo for the start of construction of the Ramona Avenue extension in Sacramento

On Thursday, April 5, Mayor Darrell Steinberg, Councilmember Jeff Harris, Councilmember Eric Guerra, Assembly member Kevin McCarty, and community partners broke ground for the Romona Avenue Extension Project.

This project, along with the upcoming work on Folsom Boulevard, will enhance safety for all modes of transportation — especially for those commuting to and from Sacramento State University. Construction will begin Spring 2018 and is anticipated to be completed by September 2018.

This project not only enhances safety along Folsom Boulevard, but will also connect to a 225-unit student housing project, The Crossings. The housing community will provide 750 beds to serve the students of Sacramento State.

Additionally, the Crossings is being constructed within the 240-acre Sacramento Center for Innovation Specific Plan, an area that is designated to foster the exchange of technical knowledge and expertise between students, faculty and innovative businesses and technology companies.

Read more about the project here.

Long Beach — A place for everyone to call home

Grand opening ceremony photo

Long Beach is thriving. From new jobs and booming construction to important infrastructure improvements and new investment opportunities, the city is undoubtedly growing. And with this growth comes the need for ensuring economic inclusion and a broader range of housing types that serve the needs of all our residents. Working families, seniors, veterans, students, and individuals with disabilities all deserve a safe, comfortable, and affordable place to call home in our city.

Over the past several years, housing burdens have become increasingly urgent nationwide, particularly in California, where rising costs and limited supply are taking their toll on lower- and middle-income families alike. A 2017 report on rental rates found a housing vacancy rate of 4.6 percent and a 4.1 percent increase in median rents citywide.

Read more here.

Downtown San Jose residential tower launch arrives days after mayor touts housing plan

Artist's rendering of The Grad San Jose apartment building with courtyard view

SAN JOSE — October 5, 2017 — The Graduate, a new residential tower geared towards students in downtown San Jose, is poised to be a fresh development venture that can help combat the Bay Area housing crisis.

Developers say The Graduate, an L-shaped project being built at 300 S. 2nd St., is a 260-room high rise a block from the edge of San Jose State University.

The project is a joint venture of San Jose-based Swenson, a realty development and investment firm, and Los Angeles-based Amcal Equities, a long-time residential developer.

“The Graduate will serve as a significant bridge between campus and the SoFA District as well as the surrounding urban amenities of downtown,” said Case Swenson, president of Swenson.

San Jose’s SoFA District is the downtown’s principal arts and entertainment area and stretches along three blocks of South First Street between San Carlos and Reed streets. The new project is between the university campus and the SoFA neighborhood.

This story originally appeared in The Mercury News. Visit that news site to read more.

Former hospitals find new life as apartments and condos

Hollenbeck senior apartment building

When Juana Monroy moved into Hollenbeck Terrace in the Boyle Heights neighborhood of Los Angeles in 2015, she learned that the white, towering senior apartment building was once a busy hospital that had appeared in dozens of movies and television shows.

Then she heard the rumors that the old Linda Vista Community Hospital building was haunted. “I was a little scared,” said Monroy, 60.

But she hasn’t seen a ghost yet, and now she loves living in a building with such history. “It’s gorgeous,” she said.

Across the country, hospitals that have shut their doors are coming back to life in various ways: affordable senior housing in Los Angeles, luxurious multimillion-dollar condominiums in New York’s Greenwich Village, a historic hotel in Santa Fe, N.M.

This story originally appeared in the Los Angeles Times. Visit the site to read more of this story.

AMCAL Opens 660-Bed Community Near California State University, Stanislaus

The Vista apartments exterior building view

Turlock, Calif. — AMCAL Equities LLC has opened The Vista, a 660-bed student housing community located near California State University, Stanislaus in Turlock, California.

The property offers one-, two-, three- and four-bedroom units. Community amenities include a clubhouse with outdoor volleyball and basketball courts; a resort-style swimming pool; outdoor television lounge; theatre; cyber café with free coffee; and 24-hour fitness center.

Asset Campus Housing is managing the property. Humphreys & Partners Architects LP designed the community, and construction was managed by AMCAL General Contractors Inc. Coleraine Capital Group, AMCAL’s joint venture partner, sourced the land and assisted with the entitlement process.

The story originally appeared in Student Housing Business magazine.

The Clarendon will bring 335 apartments to Woodland Hills

Artist's rendering of Clarendon apartments

Developers AMCAL Equities announced on August 31, 2017 that construction has begun on The Clarendon, a new apartment complex in Woodland Hills, just a block northeast of Topanga and Laurel Canyon boulevards, and right in the crook of the 101 freeway.

The five-story building will hold 335 apartments, running from studios up to three-bedrooms; 26 of the units will be rented to tenants using Section 8 vouchers.

The 4.3-acre complex, designed by Architects Orange, will be served by a six-level parking structure that will include 28 parking spaces for electric vehicle charging stations.

Another eco-friendly addition to the project are the trellis solar panels on the roof, which shade the top of the parking garage and offset a portion of common area energy costs, says a release from the developer.

Read more at Curbed LA.

A Lack Of Affordable Student Housing Is Having Severe Impacts On The Bay Area, Experts Say

Percy Vaz at Bisnow student housing conference with two other participants

The Bay Area’s affordability crisis is not just hitting low-income and middle-class families. Local universities are struggling with ways to provide affordable housing for students, teachers and staff. Without affordable housing, students are less likely to succeed at these schools and universities cannot recruit and retain talented faculty and staff.

“We are getting our asses kicked by New York. We pretty much accept the top art students in the world, and we lose them to Pratt in Brooklyn because they have housing,” California College of the Arts Director of Research and Planning David Meckel said. “The California Conservatory of Music has the same problem. They just lose them to Julliard.”

Meckel, along with developers, consultants, designers and other education administrators, discussed the challenges and impacts associated with a lack of affordable student housing during Bisnow’s NorCal Student Housing & Development event Wednesday.

Pent-Up Demand Causing Student Housing Boom, Expert Says

Photo of Percy Vaz

With thousands of units of student housing underway throughout Northern California, the region is undergoing a mini boom in student housing. In addition to local, private colleges, the Cal State and University of California systems are scrambling to meet demand.

“There has been little to no new student housing built, sometimes for decades until only recently,” AMCAL CEO Percy Vaz said.

While student housing development has been around for years, it was recognized in its own right in 2016 by several financial institutions, and large equity funds are now financing these projects more, according to Vaz, who will be speaking at Bisnow’s NorCal Student Housing & University Development event June 21. He said the returns are similar to multifamily and may be slightly higher.

AMCAL is Honored with 2017 PCBC Gold Nugget Award of Merit for its Pacific Pointe Apartments

Pacific Pointe exterior building view

AMCAL is pleased to announce that it has been honored with a PCBC Award of Merit Honoree for its Pacific Pointe Apartments in San Francisco. Grand Awards will be announced in each category and emerge from the Award of Merit Honorees at the PCBC Closing Ceremonies & Gold Nugget Awards Presentation on Thursday, June 29, 2017.

Pacific Pointe Apartments
San Francisco, California
Builder: Arash Baradaran, Project Executive,
Cahill Contractors
Developer: AMCAL Multi-Housing, Inc.
Architect: David Baker Architects
Photographer: Bruce Damonte

AMTEX Breaks Ground on Parkdale Villas in Denison, Texas

Parkdale Villas groundbreaking ceremony photo with men and shovels

Denison officials and developers broke ground Friday on a new, 140-unit apartment complex that will offer low-cost, affordable rentals for low- to moderate-income tenants and residents. The $21 million Parkdale Villas development, which will be built on 12 acres near the intersection of North Parkdale Lane and FM 120 by Amtex Development, will utilize federal tax credit programs to ensure low-cost rent.