Official: Kings Beach affordable housing project to be finished by late fall 2012
KINGS BEACH, Calif. – Construction on the major affordable housing project in Kings Beach likely won’t be finished until fall 2012, officials said this week, rather than an initial deadline of next spring.
Meea Kang, of Domus Development, lead developer for the 77-unit, $33 million project – part of the Kings Beach Affordable Housing Now campaign launched in 2010 – said last year’s 600-plus inches of lake-level snowfall delayed construction to the four sites located on Fox, Trout, Deer and Chipmunk streets.
“We are cooking, even though we are in our second winter,” Kang said.
While housing at the Fox site is finished, Kang said the Trout units will be completed by March or April of 2012, the Deer units sometime next summer and the Chipmunk units by late fall.
Despite delays, Kang said all construction deadlines linked to funding from the California Tax Credit Allocation Committee – which awarded Placer County $22.9 million in tax credits to be spread over 10 years at about $2.3 million per year for the project – will not be impacted.
“We got everything we had hoped for,” she said. “We managed to pull together an incredibly complicated financing package … we’re just trying to accelerate.”
A waiting list of potential applicants already exists for the unfinished sites, which list rents between $435-$600 for two-bedroom units and $700-$1,000 for three-bedroom units, said Cathy Metcalf, an executive vice president for Domus Management Company tasked with property management
“We have quite a few names on our contact list,” Metcalf said. “The minute they (the sites) are done, we’ll put people in.”
According to previous reports, the project, which broke ground October 2010, will place two units on Brook Avenue, five units on Trout Avenue, 12 units on Fox Avenue, 18 units on Deer Avenue and 40 units on Chipmunk Street. It also boasts environmental upgrades aimed at preventing more than seven tons of sediment from flowing into Lake Tahoe.
Furthermore, an energy efficiency variable to the project is expected to lower monthly electricity bills, Metcalf said.
Resident feedback couldn’t be more positive, said Kang, using the example of a recent talk with a local single grandmother resident currently raising her three grandchildren, who told Kang through tears how grateful she was for the housing option.
At a groundbreaking ceremony last year, North Tahoe Family Resource Center Executive Director Emilio Vaca, who works to aid many low income families in Kings Beach, praised the project, saying demand for economical housing in the area couldn’t be higher.
“The real core thing here is bringing adequate housing. Kings Beach needed adequate affordable standard housing,” Vaca said.
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