Long Beach, California – An additional 76 units of low-income housing for people who were formerly homeless will be coming to Long Beach in the following year, and a local bank, a regional services provider, and a developer who are collaborating on the project have recently secured a grant of one million dollars to help pay for it.
Farmers and Merchants Bank, a Long Beach institution that has been around for a very long time, recently made an announcement that the low-cost housing project in which it is involved had been awarded a grant by the Federal Home Loan Bank of San Francisco.
According to a press release, the project has received money not just from F&M but also from Long Beach and Los Angeles County, as well as from other organizations.
The “26 Point 2” project, which will convert a blighted strip of land on Pacific Coast Highway into an apartment complex for those who previously lacked permanent shelter, was created by F&M in collaboration with Harbor Interfaith Services and Excelerate Housing Group, a women-owned Long Beach developer. This project will help those who were previously without permanent shelter.
In a statement, F&M Vice President Cheryl Ryman said, “We would like to extend our congratulations to the 26 Point 2 project on receiving this grant award.” “We are grateful to have the opportunity to assist them in accomplishing their goal and believe that this project will be an invaluable asset to our community.”
Long Beach has made particular efforts to strengthen the city’s affordable housing stock in the wake of the coronavirus pandemic and the ensuing economic repercussions that has aggravated the current homeless situation. The development that is planned will add to the city’s supply of affordable housing.
In a statement that was released on Friday, September 9, Kelly Colopy, who serves as the director of the Health and Human Services Department in Long Beach, said that “We know that one of the most effective ways to reduce homelessness is to prevent it upstream.” Residents of our city with lower incomes will receive the much-needed respite that this affordable housing construction will bring as a result of the continued rise in the cost of market rent.
Earlier this year, the city of Long Beach announced that in 2021, it will welcome the developments known as Spark at Midtown, Bloom at Magnolia, Vistas Del Puerto, and Las Ventanas, which would contribute a total of 124 affordable units to the city. More than 209 were on their way, and the addition of 26 Point 2 will bring that total even higher.
According to a recent email from the Office of the City Manager, Long Beach authorized 445 permits for accessory-dwelling units in 2019 and 268 permits for ADUs in 2020. ADUs, which are often referred to as granny flats, are separate living quarters that are situated on the same lot as a bigger property. They can take the shape of a backyard cottage, a garage that has been converted into an apartment, an attic apartment, or a basement apartment. And although they are not formally counted toward the city’s affordable housing stock — rather, they are included in the tally for market-rate housing — officials and housing experts have long considered ADUs as another asset in the effort to solve the twin housing and homeless crises. This is because they do not count toward the tally for market-rate housing.
According to the data provided by the city, the number of interim beds in Long Beach has also climbed since the beginning of the epidemic. The number of beds has gone from 60 in 2020 to 583 this year, marking a 783% increase.
According to the findings of this year’s point-in-time homeless census, the city recorded a total of 1,009 persons living in shelters in 2019, which is a 123% increase when compared to the number of people recorded in 2020. According to the data that was issued by Long Beach in July following the completion of the count, the percentage of homeless people who are now residing in shelters has climbed from 22% in the year 2020 to 31% this year.
But throughout the same time period, there was also a sharp increase in the number of persons who lacked stable housing. Due to the pandemic, Long Beach did not carry out a study of the city’s homeless population in 2021.
This number represents a 62% rise from the previous year’s count of 2,034, which was 3,296 homeless individuals in the city.
According to the data provided by the city, nearly 44% of respondents claimed that financial difficulties were the reason they became homeless. This represents a nine percentage point rise from 2020.
For its part, the city of Long Beach still has a significant amount of work to do in order to develop a sufficient number of housing units that are priced affordably.
According to a document that was sent out by the city manager this week, Long Beach gave its approval to permit applications for projects that will ultimately result in the creation of 717 affordable housing units between the years 2014 and 2021. However, that did not even come close to meeting the target that had been established for the city by a state-mandated review of the housing stock. According to the Regional Housing Needs Assessment, the target number of affordable units for the city was 4,009; nevertheless, Long Beach only accomplished roughly 18% of that level.
This week, the executive director of Harbor Interfaith Services, Tahia Hayslet, issued a statement in which she stated that “the ongoing housing affordability crisis in California is contributing to the imminent need for housing that helps those that are experiencing homelessness throughout the state.” Hayslet’s comments were included in a statement that was released this week. “We are very happy and appreciative for this opportunity to provide services-enriched permanent home for our most vulnerable neighbors with this much-needed funding from FHLBank San Francisco,” said the organization. “We are really excited about this opportunity.”
In February, work began on 26 Point 2, which was given its name after the distance covered in a marathon.
According to Amanda Fuller, assistant vice president of public relations for F&M Bank, the land’s developer was required to “re-abandon” an oil well that dated back more than a century on the property. It was not made clear what was meant by “re-abandon,” or whether or not it included cleaning up the soil.
On Friday afternoon, attempts to contact Dana Trujillo, the chief executive officer of the developer Excelerate Housing Group, were unsuccessful.
However, that work is now complete, and construction has started in earnest, according to comments made by Fuller in an interview on Friday. The project, which will convert a former office building that is also located on the site, is anticipated to be finished in December 2023. It will cover a total area of 49,528 square feet.
The apartment complex may be found at 3590 E. According to a press release issued by F&M, the property located at Pacific Coast Highway will feature a multipurpose room that is equipped with a kitchen and a lounge, as well as outdoor courtyards and barbeque areas.
Residents will have access to social services provided by Harbor Interfaith, which is a regional nonprofit homeless services organization based in San Pedro. The funding for these programs will come from the county as well as the state.
According to a press statement issued by F&M on September 7, the project’s name, which draws inspiration from the marathon, is intended to “symbolize the fortitude in persevering over challenges and injuries.”
In a statement that was released on Wednesday, Trujillo remarked that “the local nature of this endeavor is absolutely special.” “I could not think of a project that would be more suitable to be our first project than 26 Point 2.
Trujillo continued, “Not only are we bringing beautifully designed housing to 76 households in the community where our office is located, our employees live, and our children go to school,” but “we are also able to celebrate this milestone with local funding partners such as the City of Long Beach, the Long Beach Housing Authority, and Farmers & Merchant Bank, which was founded in Long Beach.” “Not only are we bringing beautifully designed housing to the community where our office is located, our employees live, and our children go to school,”
According to the press release published by F&M, the grant of $1 million that will help pay for construction is a small portion of the $31.9 million that FHLBank San Francisco recently announced will go to 39 projects across the states of Arizona, California, and Nevada as part of its 2022 Affordable Housing Program. The announcement was made by FHLBank San Francisco.
The combination of these initiatives will result in the maintenance of or the construction of 2,712 affordable housing units for families and people living in those three states who have lower incomes.
Marietta Nez, senior vice president and community investment officer at FHLBank San Francisco, said in a statement that “The 26 Point 2 project is an exciting example of how existing facilities can be repurposed to provide quality homes for vulnerable people in need of both shelter and supportive services.” “The 26 Point 2 project is an exciting example of how existing facilities can be repurposed to provide quality homes for vulnerable people in need of both shelter and supportive services.” “It is an honor for us to partner with our member F&M Bank to address the need for new housing solutions in Long Beach,” the company said in a statement.