Aided by financial support from community businesses including Disneyland Resort, nonprofit affordable housing developer Jamboree Housing Corp. has opened its largest affordable housing property to date in Anaheim.
The 102-unit Finamore Place project serves as a housing hub for those making 30% to 60% of the area median income as well as a community center, with a St. Jude Neighborhood Health center and family behavioral health services.
The project at 915 E. Orangewood Ave. is on a previously vacant 2.9-acre site just off the Santa Ana (5) Freeway, about 1 mile west of Angel Stadium and roughly 2 miles southeast of the Disneyland Resort.
Irvine-based Jamboree Housing owns and operates more than 100 communities in the state, with the Anaheim project representing the company’s eighth in partnership with the city.
Jamboree secured a 55-year ground lease for the site worth $10.2 million from the city of Anaheim.
“Finamore Place is a model of success and we’re honored to welcome residents and community members to live and thrive here,” Jamboree Housing CEO and President Laura Archuleta said.
Public, Private Support
The project included more than $75 million in public and private support, including $24.3 million in tax credit equity from U.S. Bank; $32.3 million in construction financing; $16.7 million in permanent financing; and a $1.5 million grant from the Orange County Housing Trust, which came from a $5 million contribution from Disneyland Resort.
Disneyland’s contribution provided “leadership-level commitment in support of gap financing for the acquisition, development and construction of permanent supportive and affordable housing projects in Orange County,” according to a statement.
“Disneyland Resort is committed to helping those facing homelessness by providing funding to help get projects like Finamore Place across the finish line,” Disneyland Resort President Ken Potrock said.
“Anaheim is our home and it’s incredible to see what we can do when we come together and partner with our community to make a meaningful difference.”
The project is named after the late Marcy Finamore, who worked for Jamboree Housing for nearly two decades, joining as the director of finance with a staff of one and becoming executive vice president and chief financial officer with a team of more than 95.
She oversaw the growth of Jamboree’s operating budget from $830,000 to $12 million.
Health Hub
Finamore Place’s 17,000-square-foot community building will include a St. Jude health center with free medical services for Medi-Cal patients with pediatrics, women’s health and prenatal care and optometry services.
Orange County Head Start will also operate a 3,800-square-foot early education center for low-income children and families, and a child guidance center will offer behavioral health services including family therapy, ADHD treatment, children’s behavior management therapy and military family support.
The project will also include outdoor open spaces and public art, with amenities including a computer lab, swimming pool, barbecues and a community garden.
The four-story apartment building includes one-, two- and three-bedroom units, with rents of $762 to $2,114 per month based on household size and income level.
