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The SEASONS is located in Ontario, an older suburban city of 146,000. It is located
in the city’s designated redevelopment area and its undertaking required a complex
financing structure. Construction financing for the residential component of $3,165,000
was provided by Bank of America Community Development Bank with long-term financing
through credit-enhanced tax-exempt bonds of $2,325,000; Edison Capital Housing purchased
$2,090,000 Low-income Housing Tax Credits. Overall, the combined project cost approximately
$24 million, including $5 million in redevelopment funds, of which $1.5 million was for
the commercial side and $3.5 million for the residential side. The City purchased the land
and leased it to LINC Housing and also made a loan to be repaid by residual receipts from
cash flow.
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Aerial view of Ontario Gateway site.
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Originally built in the 1950s, the center had become unattractive with only 30 percent
occupancy by 1995. It was unable to compete with local, more modern retail centers. The
nearly empty shopping center was part of a deteriorating Mountain Avenue commercial
corridor that had just been designated as a redevelopment area. As the very first
undertaking for this new area, the City of Ontario, along with the private commercial
developer and LINC Housing, took on the challenge to resuscitate Ontario Plaza and at
the same time, provide much needed affordable housing for seniors.
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Heading home through
the “Gateway”.
Photo: Gary Krueger
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The residential component is an 80-unit complex of one- and two-bedroom apartments
located through the “gateway” at the shopping center. The affordable
apartments are home to active seniors 55 years of age and above whose incomes are
at or below 60% of the average yearly income for San Bernardino County. The two-story
California mission style apartment buildings are clustered on the northeast side of
the property with attractive landscaping and carports. The decorative exterior brickwork
on the backs of the commercial buildings, and wrought iron fencing with gated entrances
provide privacy for residents. The residential community is connected to the shopping
center by a “gateway,” allowing the residents walk-through access to the shops
and services as well as friendly door-to-door deliveries by center’s merchants. The
architects designed the property’s street facade to be a part of the surrounding
neighborhood, rather than turning its back on the neighborhood. Entry doors for each
unit are within the gates, while each apartment has a patio or balcony that overlooks
the street. This connects the residents with the larger neighborhood and provides a
sense of community. Continue »
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