The Terraces at Fourth
A Community-Rich Mixed-Use Development
about us
St. Joseph Center
experience
CREATE sense of place
PRIORITIZE community need
INCREASE affordable housing stock
ENHANCE resident quality of life
LEVERAGE value of City-owned property
SUPPORT housing retention
PROMOTE equitable living
introducing
the terraces at fourth
residential program
RESIDENTIAL – 140,679 SF
107 Units (60 Supportive) or
153 Units (80 Supportive) Higher-Density Alternative
Supportive Services ● Property Management
Resident Center ● Open Space ● Parking
commercial program
COMMERCIAL – 18,409 SF
Bookstore ● Café ● Boutique Retail ● Atrium
Parking ● Artist/Nonprofit Workshop Space
financing approach
PERMANENT SOURCES TOTAL
Permanent Loan $8,535,200
Ground Lease Note $12,450,000
LA County Development Authority $7,000,000
CalHCD Sources: AHSC & IIG $21,951,479
FHLB Affordable Housing Program $1,500,000
LP Equity - Federal $22,682,476
Deferred Developer Fee & GP Equity $5,445,796
Total Permanent Financing $79,564,951
PROJECT USES TOTAL
Acquisition $12,450,000
Hard Costs $49,798,335
Architecture & Engineering $2,847,526
Financing Costs $4,375,205
Reserves $1,013,158
Other Soft Costs $1,730,293
Developer Costs $7,350,435
Total Project Uses $79,564,951
property management approach
GOALS
• Deliver high-quality standard of living that
support residents’ emotional, physical, and
financial ability to thrive.
• Be a proactive community partner
• Maintain real estate assets as vibrant,
connected spaces
WHAT WE BRING
• 30+ years of experience
• Local partnerships
• Unrelenting commitment to long-term
housing stability
• Integrated property management and
resident/social service provision
94%
56%
62%
43%
since moving to
abode communities…
of residents say their lives have improved
of residents feel safer
of residents worry less about money
of residents have improved their health
services approach
GOALS
• Support long-term housing stability
• Promote resident independence
• Improve livelihoods
• Remove barriers to resource access
• Maintain highly collaborative relationship
with property management
WHAT WE BRING
• Whole-property, integrated social
services approach
• Existing, successful partnership with
established service provider,
St. Joseph Center, SPA 5 CES Lead
• Abode Communities’ signature
Beyond Homes resident services program
1:1 Case
Management
Workshops,
Engagement
Opportunities
After-School
Program, Group
Therapy
People
Transitioning
from
Homelessness
All Residents
Targeted
Resident
Populations
79%
Maintained
or Increased
Income
99%
Housing
Retention
engagement approach
GOALS
• Create equitable, inclusive, and collaborative process • Engage is actively listening to solicit community input • Align opportunity with local need
• Become long-term community partner
WHAT WE BRING
• Long-standing relationships with local stakeholders
• Diverse and inclusive engagement strategies
• Equitable and local subcontractor hiring
• Proactive communication that begins with listening
• Integrative process and opportunities for feedback
• Commitment to long-term ownership and operation
choosing abode communities
PROMOTE equitable living
DELIVER shared community vision
MEET local need
EXECUTE feasible development program
ADVANCE City-wide sustainability
LEVERAGE financial strength
MAINTAIN local partnerships
ACHIEVE superior resident satisfaction
INVEST in community
Q & A