Each townhome to be sold to qualified low-income homebuyers at approximately half their appraised value
RAAM Construction, a general building construction firm specializing in multifamily and historic preservation projects throughout California, has broken ground on the construction of two affordable townhome developments in Pasadena.
The properties will consist of 16 two-story townhomes, nine at Decker Court and seven at Gill Court, with a shared driveway.
RAAM is working closely with the City of Pasadena and Heritage Housing Partners (HHP), a non-profit housing developer, to deliver these new residences, each of which will be offered as an affordable for-sale home for qualifying buyers.
“With a population of 145,000, high land costs and a limited amount of developable real estate, the City of Pasadena continues to demonstrate its commitment to new affordable housing options,” says Richard Lara, president and CEO of RAAM Construction. “Through direct funding assistance that subsidizes the construction, rehabilitation, and preservation of this housing, the city and our long-time partner, Heritage Housing, are working closely to meet existing and projected housing needs in both the short and long term.”
As part of the project, RAAM Construction relocated to the site Pasadena’s iconic Queen Anne style Decker House, which was built in 1892 and designated as a city landmark in 1998. The move began on Thursday night, May 30, and carried on into the early hours of Friday morning.
“The relocation [required] precision and experience in historical preservation, which our firm is fortunate to have,” says Lara. “The historic house [was] cut in half and moved in two phases, after hours.”
RAAM broke ground on the new $11.5 million development, which will be built to CAL Green standards, featuring solar panels to enhance energy efficiency.
Situated in close proximity to retail stores, healthcare centers, schools, and the 210 Freeway, Decker Court and Gill Court will offer a mix of two-, three-, and four-bedroom residences ranging from 1,150 to 1,485 square feet. Two of the townhomes will be located inside the historic Decker House, which RAAM is renovating to align with current building codes, while maintaining historic standards. Renovations will include new mechanical, electrical, plumbing, drywall, and finishes, as well as structural and seismic retrofitting.
“With construction costs steadily rising, our team connected with suppliers and vendors early in the process to negotiate and set pricing for materials,” says Lara. “This strategy ensures that we can deliver a high-quality end product that is also within budget.”
The development is subsidized by the City of Pasadena, HHP, and funding partners Mutual of Omaha and Bank of America. Each townhome will be available to qualifying low-income homeowners at roughly half of each home’s appraised value.
Standards for qualifying will be based on income, location and other factors. HHP and the City of Pasadena will maintain these standards. The city has the final say on which applicants qualify.
“The positive impact this development brings to the local community is twofold,” says Lara. “First, it gives residents an opportunity to put down roots in this community with a homeownership option that is achievable for many. Second, it restores and beautifies a landmark that reflects Pasadena’s deep heritage, bringing pride to the local community.”
Decker Court and Gill Court are expected to be completed in May 2020. The development is located at 1661 N. Fair Oaks Ave. in Pasadena.