Heritage Square South Facing Funding Shortfall

The City Council on Wednesday called on the county to help close a funding gap for Heritage Square South.

Bridge Housing unsuccessfully applied for $6 million from two sources, No Place Like Home and the Affordable Housing Trust Fund.

But No Place Like Home does not prioritize senior housing and the trust fund prioritizes unincorporated areas like Altadena.

Housing Director Bill Huang proposed that funds from the American Rescue Plan could be used for unfunded projects such as Heritage Square South.

The county received  $25 to $30 million dollars from the plan.

“I am open to working with the city of Pasadena,” Barger said.

The project is located near Fair Oaks Avenue and Orange Grove Boulevard and would provide 69 affordable units for independent seniors and one unit for a manager of the complex.

Like Heritage Square Apartments, Heritage Square South is being developed by the nonprofit Bridge Housing Corp.

Bridge Housing was selected to construct the project last year during a hearing before a packed council chamber that included speakers from the city’s affordable housing advocacy community.

Per the city’s Inclusionary Housing Ordinance, 20 percent of the units must be available to very low, low, and moderate-income people at an affordable housing cost.

Five percent of the units must be rented to very low-income households, five percent must be rented to very low- or low-income households; and 10 percent must be rented to very low, low, or moderate-income households.

The 48,462 square-foot project also includes approximately 2,200 square feet of ground-floor commercial space and a 37-space surface parking lot. The project is expected to cost $30 million.

The property, valued at $5 million, will remain owned by the city but leased to Bridge Housing on a long-term basis.

“This is something that is critically important for the health of our city,’ said Councilmember John Kennedy, who represents the area where the project is located. “Anything you can do that can help us close that gap will be greatly appreciated.”