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Passion for Housing

AMCAL CEO Percy Vaz is featured in the current edition of Affordable Housing Finance Magazine in an article titled “Passion for Housing.”

Brick by brick and town to town, the AMCAL group of companies does the hard work of building affordable and market-rate housing throughout California and Texas.

During its 40 years, the firm has developed more than 80 communities with 7,500 units and an equally impressive reputation for creating quality housing for families, seniors, and, more recently, college students.

Not bad for a company that Percival Vaz and his wife, Lux, began in their garage.

Armed with an entrepreneurial spirit, Vaz, the firm’s founder and CEO, emigrated to California from India in the mid-1960s to study electronics, earning bachelor’s and master’s degrees from the University of California at Los Angeles, with the idea of returning to his home country to open an electronics assembly plant.

Read more here.

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

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.

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

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.

Read more at The Mercury News…

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

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.

Read more at Student Housing Business.

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

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.

Read more at Bisnow.com.

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Multi-Housing News “AMCAL Breaks Ground on Sacramento Student Housing”

By Jeffrey Steele

The 225-unit development is scheduled for completion in August of next year.
Sacramento, Calif.—AMCAL Equities LLC has closed financing and launched construction on a new student housing community serving California State University, Sacramento (CSUS) students. The 225-unit development is scheduled for completion in August of next year. Located just one-fifth of a mile from the university, it will deliver 750 beds, state-of-the-art amenities and pedestrian-friendly nearness to the CSUS campus.

The $75 million project on 9.2 acres has been funded by Agoura Hills, Calif.-based AMCAL, which used $22.5 million in equity investment funding from Irvine-based Anchor Real Estate Capital and a $50 million JPMorgan Chase construction loan.

“We believe there is adequate demand in the marketplace for a new student housing development with our building design, unit types, location and amenities,” AMCAL director of market rate and student housing Stephen Clarke told MHN.

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