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| December 27, 2011 |
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616 E. CARSON WINS $2.36 MILLION BEGIN GRANT
CARSON, CA – The California Department of Housing and Community Development ("HCD") notified Carson Mayor Jim Dear of its decision to grant $2.36 million in downpayment assistance for 48 moderate income homebuyers at 616 E. Carson Street, a residential mixed use community being developed by Community Dynamics |
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in partnership with Los Angeles based CityView. Dynamics assisted the City with its application for the funds.
"Community Dynamics has long been recognized as a leader in the field of affordable housing, and is pleased to have been able to work with City leaders to craft a program that will make homeownership available to hard working households earning as little as $56,000 per year," said Josh Freeman, the Company's spokesperson.
HCD established the Building Equity and Growth in Neighborhoods ("BEGIN") Program, following voter passage of Proposition 46 in 2002, in order to encourage cities and counties to reduce regulatory barriers to the construction of new, affordable ownership housing. "The Department is committed to expanding housing opportunities for all Californians. The BEGIN Program plays an important role in the efforts of the Governor and this Department to address California's housing and community revitalization needs," said Chris Westlake, HCD's Deputy Director.
616 E. Carson Street will feature 13,300 square feet of neighborhood serving retail and 152 one to four bedroom homes on 10 acres. The $50 million community will be the third such development to anchor the newly developing Carson Street Mixed Use Corridor, the city's new downtown shopping district. |
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