A local nonprofit dedicated to increasing Orange County’s stock of affordable housing has big plans to expand its portfolio in Anaheim and Santa Ana.
Santa Ana-based Innovative Housing Opportunities (IHO) recently opened a 54-unit affordable housing community in Anaheim, and is now in the early stages of converting a commercial building next to its headquarters into a 160-unit affordable housing project.
The organization, founded in 1976, uses tax credits as well as state and federal funds to acquire and develop affordable housing projects, with 600 units located throughout the state, including five projects locally.
El Verano
The newest project, El Verano, is next to another of IHO’s projects in Anaheim, the 70-unit Rockwood apartments.
Located at 1248 E. Lincoln Ave., about a mile east of Anaheim’s city hall, El Verano was previously a beleaguered motel property before the city of Anaheim bought it in 2017 for redevelopment.
IHO led the redevelopment of the project, creating 54 affordable units for seniors and formerly homeless individuals.
The underlying land for the 1.1-acre property is owned by the city, while IHO owns and operates the property.
Resident amenities include a community room, computer room, and a dedicated health office. IHO has also introduced community program services that “help residents to remain stably housed, and to age in place with dignity and grace,” according to the organization.
“We truly believe that our properties can be a catalyst for improving and enhancing the community at large,” said CEO Rochelle Mills.
Santa Ana
Next up for IHO: the redevelopment of a building within Santa Ana’s Golden Circle district, near 4th Street.
IHO previously used tax credits and state funds to acquire four adjacent parcels in the city, including the organization’s headquarters at 501 N. Golden Circle, and is looking to partner with affordable and market-rate developers in a redevelopment that could add housing, office and retail components.
First up is the redevelopment of the former Red Cross building at 601 N. Golden Circle Drive into a 160-unit affordable apartment project.
