Grand Opening held for first phase of Arrowhead Grove redevelopment
San Bernardino, Ca – The much anticipated transformation of one of San Bernardino’s most challenged neighborhoods marks the completion of its first phase November 30 with the Grand Opening of Valencia Vista at Arrowhead Grove.
GRAND OPENING OF VALENCIA VISTA AT ARROWHEAD GROVE
Wednesday, November 30, 2016, 1:30 p.m.,
950 Valencia Avenue, San Bernardino, CA 92410
The 76-unit workforce housing community at Valencia Avenue and 9th Street is part of the $150 million to $200 million redevelopment of the former Waterman Garden public housing community.
Now known as the Arrowhead Grove Neighborhood Revitalization effort, the overall redevelopment plan calls for more than 400 affordable, senior and market rate housing units, community amenities, upgraded infrastructure and an integrated educational environment. The project will be phased in over the next six years.
“We are pleased to celebrate the opening of the first phase of this redevelopment effort,” said San Bernardino Mayor R. Carey Davis. “Arrowhead Grove represents an important step forward for our community, and this project is a great example of the City’s effort toward improving the quality of life for our residents.”
National Community Renaissance (National CORE), one of the nation’s largest nonprofit builders of affordable and senior housing, is the master developer of the project, in partnership with the City of San Bernardino, the Housing Authority of the County of San Bernardino and the Hope through Housing Foundation.
Steve PonTell, President and Chief Executive Officer of National CORE, said the redevelopment Arrowhead Grove represents a bold step forward with regard to how the collective impact model can transform entire communities.
“This is a true partnership – one that not only addresses housing needs, but creates life-changing opportunities for residents and serves as an economic catalyst for the city as a whole,” PonTell said.
A 2014 study by the Center for Economic Research and Forecasting concluded that construction activities will increase economic output in San Bernardino County by more than $80 million, support more than 1,000 jobs and pay more than $46 million million in labor income to county residents. On an annual basis, the study concluded that the project will generate more than $2.2 million in direct, indirect and induced economic activity and nearly $1 million in labor income.
In addition, the project will generate millions of dollars a year in tax revenues to support vital services.
“This is a historic moment for our agency and for the families that we serve, not only because it depicts the start of a new era in safe, stable and high quality housing, but as the revitalization unfolds it promotes further prosperity for our families and the community,” states Maria Razo, Executive Director of the Housing Authority of the County of San Bernardino.
Financing for Arrowhead Grove is through a variety of private and public sources, including tax credit financing, federal HOME-Investment Partnership funds and the Department of Housing and Urban Development’s (HUD) Rental Assistance Demonstration (RAD) program. If you would like to financially support this or other projects by National CORE and its social services partner, the Hope through Housing Foundation, please visit www.nationalcore.org.