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Wednesday, July 20, 2022

Source: CBS News

Affordable housing complex opens in Fountain Valley for low-income residents

July 20, 2022
By CBSLA Staff

Low-income residents in Fountain Valley now have a new place to live for the first time in nearly twenty years

Robert Hill is an airforce veteran who earned his doctorate at USC, but because of a few admittedly poor choices, he was on the brink of homelessness.

"Throw a little bit of mental health and depression in there. That's a very hard thing for me to say," he said.

He needed help. That's when he found out about Prado, Fountain Valley's first new affordable housing complex in the last two decades.

Wednesday morning was the culmination of a four-year, 28-million-dollar project. It's a 55-unit complex, where 8 are specifically reserved for veterans like Hill.

"These don't get to convert into market-rate condos in 10 or 15 years. They will always be affordable," said Bill Witte, Chairman and CEO of Related California

Rents at Prado are on a sliding scale depending on the resident's income. One-bedroom rents range from $640 to $1450 a month, compared to the market rate of $2300 dollars. 

Units have high-end finishes and the complex has recreational areas and a secure playground.

The complex also features a large multi-purpose room with a full-size industrial kitchen

Hill says this is the start of a new chapter in his life. A chapter that will launch him in a positive direction - never to return to homelessness.

"If your actions inspire others to dream more, learn more, do more and become more, you are a leader." - John Quincy Adams