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New Low-Income Townhome Development Along Fair Oaks Avenue Completed

Published on Thursday, August 6, 2020 | 12:19 pm
 

Workers have completed construction of a new 16-unit project consisting of two townhomes to be sold to qualifying low-income home buyers at roughly half their market values.

Decker Court, with nine homes, and Gill Court, with seven, is a project by the nonprofit housing developer Heritage Housing Partners, in partnership with the city of Pasadena, according to the builder, Pasadena-based RAAM Construction.

Decker Court is a renovated Queen Anne style Decker House, which was built in 1892 and designated as a city landmark in 1998, according to RAAM. The project emphasized historic preservation.

Workers broke ground on the construction in June 2019.

“RAAM is working closely with the city of Pasadena and Heritage Housing Partners, a nonprofit housing developer, to deliver these new residences, each of which will be offered as an affordable for-sale home for qualifying buyers,” RAAM said in a written statement.

“The development is subsidized by the city of Pasadena, HHP, and funding partners Mutual of Omaha and Bank of America,” the statement added. “Each townhome will be available to qualifying low-income homeowners at roughly half of each home’s appraised value.”

RAAM President and CEO Richard Lara said the project would be a benefit to the community, providing sorely needed housing.

“With a population of 145,000, high land costs and a limited amount of developable real estate, the city of Pasadena continues to demonstrate its commitment to new affordable housing options,” he said. “Through direct funding assistance that subsidizes the construction, rehabilitation, and preservation of this housing, the city and our long-time partner, Heritage Housing, are working closely to meet existing and projected housing needs in both the short and long term.”

“The positive impact this development brings to the local community is twofold,” Lara added. “First, it gives residents an opportunity to put down roots in this community with a homeownership option that is achievable for many. Second, it restores and beautifies a landmark that reflects Pasadena’s deep heritage, bringing pride to the local community.”

The $11.5 million development at 1661 N. Fair Oaks Ave. was built to CAL Green standards and features solar panels to improve efficiency, according to the construction company.

Decker Court and Gill Court each offer a mixture of two-, three- and four-bedroom homes ranging in size from 1,150 square feet to 1,485 square feet.

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