Belage Manor Apartments
Belage Manor Senior Apartments is a 180-unit senior Section 8 and LIHTC community located in Anaheim, CA. The Fund partnered with Jamboree Housing Corporation (“Jamboree”), a non-profit affordable housing developer and builder based out of Irvine, CA, to purchase the entity for $41.25 million.
Together, the Fund and Jamboree will provide $9.92 million to renovate the Belage Manor property, which last underwent a major renovation in 2008. The Fund will partner with the Anaheim Housing Authority to design, scope, and oversee the renovation of the project which will provide much-needed structural improvements and energy efficiency upgrades throughout the building, and update the management and resident services offices. In addition, the renovation will reprogram the complex’s three interior community rooms and all exterior areas into “Communities of Opportunity” spaces, offering best-in-class tenant educational, career, and enrichment services for which the Jonathan Rose Companies are renowned.
Structural work will also include a roof recoat, elevator modernization, and new site access and pedestrian entryway. Other major improvements include the repairs and replacements of unit and community room balconies across the property, sidewalk and parking lot repairs and accessibility upgrades, and new painting, lighting and flooring throughout the corridors. All units will receive new Energy Star appliances, low-flow plumbing fixtures, LED light fixtures, and new CO and smoke detectors. The building will also be brought to UFAS standards, which will fully convert nine of the existing units into accessible units, and another four units into audio/visual accessibility units. Total renovations are expected to last 24 months.
Acquisition and preservation of 180-unit senior Section 8 and LIHTC community located in Anaheim, CA
ACQUIRED: 2022