August 17, 2023
77 New Affordable Studios Open in Downtown San Diego for Households with Low Income
The San Diego Housing Commission awarded financing and rental housing vouchers to support development of The Helm and assist its lowest-income residents
SAN DIEGO, CA — The grand opening today of The Helm, a new development built in collaboration with the San Diego Housing Commission (SDHC), celebrated the addition of rental homes downtown that are affordable for San Diegans with low income in the otherwise high-cost, competitive rental housing market in San Diego.
For a resident who goes by the nickname Frenchie, the Helm also restored the sense of safety that she said she had lost after an assault outside her previous residence.
“I have to thank you because you gave me a safe place. And for years I didn’t have that, and I wasn’t used to that. Back home, I had that. And when I got here, I got that again,” said Frenchie, who said she had moved to San Diego five years ago.
Developed by Affirmed Housing in collaboration with SDHC and additional partners, The Helm transformed a former parking lot in the Cortez Hill neighborhood into 77 studios that will remain affordable for 55 years and one manager’s unit.
“This is helping to address what I believe is the biggest challenge in our city and in our region. It’s a crisis of a lack of affordable housing and it’s corresponding impacts on homelessness. Obviously, we don’t have enough housing; we have too much homelessness. This is how you address it—providing housing that people can actually afford,” Mayor Todd Gloria said. “This is 77 units of additional housing in our community in a transit-oriented environment near downtown with rents that are sustainable and affordable to some of the lowest incomes in our community, many of whom were formerly homeless.”
More than 40 percent of the units at The Helm (32 units) are set aside for San Diegans with extremely low income, up to 30 percent of the Area Median Income (AMI), currently $28,950 a year for a one-person household.
“We are really improving the quality of people’s lives with these apartments here. Rents, as we all know, are very high in San Diego. By ensuring that a tenant’s rent is affordable for them in relation to their income, it enables them to take care of their other expenses and be able to live their lives more fully,” said San Diego Councilmember Stephen Whitburn, whose district includes The Helm.
SDHC awarded 32 federal rental housing vouchers to help pay rent for the residents with extremely low income. These vouchers are tied to the units. When a resident moves on, the voucher remains with the property to help another income-eligible household.
“The addition of these 77 new rental homes here in downtown San Diego is a wonderful addition for this community. This community has been thriving with all of the new multifamily housing coming in. I think it’s a great example for the rest of the city how this type of new homes and new residents can invigorate a community,” SDHC Vice Chair Ryan Clumpner said. “The Helm is truly an outstanding example of the type of development necessary for us to address the shortage of affordable housing.”
SDHC also awarded a loan of approximately $4.2 million to make the development of The Helm (previously known as Front and Beech Apartments) possible. The loan consists of funds SDHC administers from the City of San Diego’s Affordable Housing Fund.
The Helm also includes four units for residents with income up to 60 percent of AMI, currently $57,900 for a one-person household, and 41 units affordable for individuals with income up to 80 percent of AMI, or $77,200 per year for a one-person household.
“Residents here have access to complimentary on-site services provided by Compass for Affordable Housing in addition to beautifully designed community spaces throughout the building,” Affirmed Housing President Jimmy Silverwood said. “I want to thank our dedicated team at Affirmed and thank all of our partners here today. In addition, I would like to formally welcome all of our residents to their new homes. May The Helm be a home full of peace, joy and an environment where everyone knows they are welcome.”
On-site services include adult educational, health and wellness, and skill building classes. On-site amenities include a multipurpose room, a lounge, a clubhouse, a courtyard, bicycle storage room and a common-area laundry room.
Trolley and bus stops within a one-third of a mile of the site offer access to transit for work, education and leisure.
Financing for the development included 4 percent low-income housing tax credits, which California State Treasurer Fiona Ma’s office administers.
“Look at the funding. The way that this building got built was by the community coming together. Whether it was the City, whether it was the Council helping with the some of the easements and such, the state coming in with tax credits, the federal government helping with their assistance, and of course, the private funding,” said California Chief Deputy Treasurer Patrick Henning.
Additional financing partners included the California Housing Finance Agency, US Bank and the California Community Reinvestment Corporation.
Solari Enterprises manages the property.
Connect with SDHC on social media:
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Media Contact:
Scott Marshall,
Vice President of Communications
San Diego Housing Commission
619-578-7138
