Amid Skyrocketing Need for Affordable Senior Housing, Valley Senior Village Offers Hope for Residents 62 and Better

Escondido, Calif. – National Community Renaissance (National CORE) and the San Diego Community Housing Corporation (SDCHC) proudly hosted a groundbreaking celebration for the affordable senior housing community of Valley Senior Village today. Valley Senior Village will provide 50 affordable apartment homes for seniors with household qualifying maximums at various set asides ranging from 30 to 60 percent of the applicable area median income (AMI). While the nation’s housing crisis is affecting Americans of all ages, experts have begun sounding an alarm about the shortage of senior affordable housing, with data showing that the rapidly-aging population in the U.S. will only worsen the senior housing crisis in coming decades.

Among renter households, senior households are the most rent-burdened (defined as paying more than 30% of one’s income in rent). About half of all renter families headed by someone 65 or older were rent burdened, and more than a fifth were severely rent burdened (paying more than 50% of income towards rent). In 2018, a Harvard study shared that 20 million seniors were rent burdened, with 9.6 million severely rent burdened. Meanwhile, the number of U.S. residents over the age of 65 is expected to double by 2050.

“We are at a critical time where the actions we take now will affect how seniors live for years to come,” said SDCHC President and CEO Ted Miyahara. “We have a responsibility to provide quality housing that is affordable for our growing population of seniors and supports their needs. I’m proud to say that Valley Senior Village will do exactly that.”

Half of Valley Senior Village’s units will be reserved as permanent supportive housing for seniors experiencing, or at risk of experiencing, homelessness, who will be referred through the San Diego Coordinated Entry System.

“As a longtime Escondido resident, I know how important it is for our city to offer affordable housing options, especially for seniors who are largely living on fixed incomes,” said Escondido Mayor Paul McNamara. “I am proud that this wonderful city is continuing to make strides toward an even higher quality of life for all residents.”

To promote housing stability as well as health and wellness, these individuals will receive long-term case management and an array of supportive services designed to promote stability and independence. Nationwide, seniors are the fastest-growing population among those experiencing homelessness and in San Diego County, one in every four homeless adults is more than 55 years old.

“When it comes to ensuring the health and safety of North County seniors, affordable housing coupled with supportive services remains one of the most crucial components,” said David Estrella, Director of Housing and Community Development Services for the San Diego County Health and Human Services Agency. “With innovative programs like the County of San Diego Innovative Housing Trust Fund and No Place Like Home, we are continuing to bring folks in off of the street, to help recently-homeless seniors maintain stable housing, and to allow all senior residents the opportunity to thrive as they age in place.”

Services will be offered through the Hope through Housing Foundation, the County of San Diego Health and Human Services Agency Behavioral Health Services, San Ysidro Health/San Diego PACE (Program of All Inclusive Care for the Elderly), and separate support from Interfaith Community Services.

“We must continue to improve our region by investing in our communities,” said San Diego County Supervisor Jim Desmond. “And I believe investing in workforce housing and permanent supportive housing is a crucial part of that.”

Valley Senior Village will be located a quarter mile from a North County Transit District bus stop with service from Routes 351, 352, 357, 371, and 388 and a half mile from a major transit stop with service every 15 minutes during commuting hours, situating residents within walking distance to bus, light rail, and commuter rail transit options. Residents are also within walking distance of the Escondido Public Library, parks, multiple senior and veteran resource centers, health clinics and pharmacies, a movie theater, a wide array of grocery and retail stores, and the Escondido Farmers Market.

“One of my foremost goals while serving the people of San Diego County is to create livable, sustainable and healthy communities,” said San Diego County Supervisor Terra Lawson-Remer. “Valley Senior Village will be a wonderful home for its residents, providing easy access to transit and supportive resources, while benefitting the community as a whole through sustainable, affordable development.”

Valley Senior Village’s sustainable features include anticipated LEED for Homes certification, National CORE’s signature efficient, tight building envelope, high performance HVAC and hot water delivery systems, high efficiency plumbing fixtures, drought-tolerant landscaping, and high-efficiency, LED lighting.

“Quality affordable housing leads directly to improved public safety and neighborhood revitalization,” said California State Assemblymember Marie Waldron. “I am committed to supporting the creation of high-quality communities, like this one, that improve the lives of both residents and neighbors.”

Financial partners the City of Escondido, County of San Diego, State of California Housing and Community Development Services, Chase and Hudson Housing Capital played a key role in securing funding for the development.

“Valley Senior Village will bring affordable housing to local seniors, as well as formerly homeless senior residents in need of a safe and steady roof over their heads,” said James Vossoughi, Vice President, Community Development Banking, Chase. “By working with industry leaders like National CORE, we’re able to continue addressing the gap in affordable housing and help growing communities like Escondido to thrive.”

Onsite community amenities will include outdoor gathering spaces, a stunning courtyard, laundry facilities, and private offices for case management.

“National CORE continues to be a leader in forming strong partnerships to create affordable housing that is attractive, healthy, and transformative. None of this would be possible without the hard work of our partners, including our co-developer San Diego Community Housing Corporation,” said National CORE President and CEO Steve PonTell. “Valley Senior Village represents another important step forward in our efforts to address the shortage of affordable housing for seniors.”

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About San Diego Community Housing Corporation

San Diego Community Housing Corporation is a housing and community development organization, recognized for developing, preserving, and maintaining quality housing developments that support individuals, families and neighborhoods, in reaching their fullest potential. Founded in 1994 as a California 501 (c)(3) nonprofit organization, SDCHC is dedicated to the development of affordable housing that offers a host of resident services designed to assist residents in achieving the goal of upward economic mobility. For more information, please visit www.sdchc.org.

About National Community Renaissance (National CORE)

National CORE is one of the nation’s premier affordable housing developers, building award-winning communities and creating a platform for individual and community change. National CORE creates strong, healthy communities where residents can thrive. In partnership with the Hope through Housing Foundation, National CORE provides impactful resident programs and services to help children and teens achieve success, improve families’ financial well-being, and promote senior health and wellness. For more information on National CORE, please visit www.nationalcore.org.

About Hope through Housing

Hope through Housing believes that affordable housing can be a platform for transformational change at the individual and neighborhood level. For more than 20 years, the Hope through Housing Foundation has provided more than 2 million hours of transformational social services helping children and teens achieve success, improving families’ financial well-being, and promoting seniors’ health and wellness. For more information on Hope through Housing, please visit www.hthf.org.

 

 

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