NEWS RELEASE FOR IMMEDIATE RELEASE
Contact: Landis Graden
Email: [email protected]
FREMONT, Calif. (May 1, 2009) — Eden Housing, a nonprofit homebuilder headquartered in Hayward, Calif., and Dutra-Cerro-Graden, Inc. (DCG), a commercial real estate broker and developer, announced today that Eden Housing has acquired a 3-acre site in Fremont and plans to build 98 units of much-needed affordable senior housing.
Eden’s project manager, Katie Lamont, and DCG’s Dominic Dutra and Alan Cerro worked together diligently for almost two years to negotiate lease buyouts and to obtain the necessary entitlements for the development project. In addition, Eden Housing and DCG worked alongside the City of Fremont and the Department of Housing and Urban Development (HUD) to obtain over $25 million in development funds for the housing development on Peralta Boulevard in Fremont’s Centerville District.
The project is located a few blocks from the Fremont-Centerville transit station that provides access to both the ACE Train and Amtrak. The site will provide amenities to accommodate a variety of senior citizens’ daily needs and interests. After countless hours of research, planning and negotiating, Eden will now work to finalize construction drawings and building permits for the site which is anticipated to begin construction in 2010.
The project’s conceptual plans call for 98 senior affordable units, a community room, offices, common area, residential units and an On Loc Senior Health Services center. Seniors citizens with household incomes at or below 40% of the area’s annual median income level, which is currently nearly $24,000, will be able to live affordably and within walking distance of local retail, shopping, transportation, parks and health care facilities.
Dominic Dutra, President and CEO of DCG, said he is “excited that Eden Housing is able to provide affordable living solutions to low-income seniors.” Key stakeholders, including HUD and the City of Fremont, were pivotal in securing the development site. Dutra continued, “…without them [HUD, the City of Fremont, and Eden Housing], this development site would likely remain functionally obsolete. As a result of persistence and vision, this site will benefit scores of seniors in our community for years to come.”
About Eden Housing Eden Housing, Inc. is one of Northern California’s premier nonprofit affordable housing developers and managers, as well as one of its oldest. Since 1968, Eden has been creating a variety of high-quality affordable housing opportunities for lower-income families, seniors and people with disabilities. Eden’s housing portfolio includes multi-family rental housing, co-ops, supportive housing and first-time homeownership housing. Eden is currently active in twenty cities in Alameda, Santa Clara, San Mateo, Sonoma, Contra Costa and San Joaquin Counties.
About Dutra-Cerro-Graden, Inc. Dutra-Cerro-Graden, Inc. is a commercial real estate and land development company with operations in the Greater San Francisco Bay Area. Founded by three industry leaders, Dominic Dutra, Alan Cerro, and Landis Graden, the firm brings decades of experience in dealing with land, asset and development opportunities. Their competitive advantage in the market is their understanding of the land development and entitlement process and their ability to use this knowledge to assist clients in achieving key organizational objectives.