CLAREMONT, CALIF. — Jamboree Housing Corp. has opened Larkin Place, a 33-unit affordable housing community in Claremont, a city in eastern Los Angeles County, about 33 miles east of downtown Los Angeles. Larkin Place is intended to serve low-income and formerly homeless individuals and is comprised of eight studios and 24 one-bedroom units reserved for households earning no more than 30 percent of area median income. A manager will occupy the remaining unit.
Several public and private financial partners participated in bringing the $23.9 million development to fruition. Los Angeles County Development Authority provided 32 Project-Based Vouchers (PBVs) sourced from the United States Department of Housing and Urban Development (HUD) and a $4.7 million permanent loan.
San Gabriel Valley Regional Housing Trust provided a $3 million loan, sourced from HUD’s Community Project Funding. U.S. Bancorp Impact Finance provided a $13 million construction loan, $10.7 million in tax credit equity, and $82,792 in solar credit equity.
Century Housing Corp. provided a $4.7 million permanent loan and a $1 million acquisition loan. Federal Home Loan Bank of San Francisco provided a $480,000 Affordable Housing Program (AHP) loan.
The architect was KFA Architecture. Quality Development and Construction Inc., a Jamboree subsidiary, was the general contractor. AI Design led interior design, and property management is being provided by Quality Management Group.