San Luis Obispo Welcomes Green Affordable Housing Designed by KTGY Group

Grand Opening Celebration of The Village at Broad Street
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42 new apartment homes now available to low-income families in San Luis Obispo

SAN LUIS OBISPO, CA – February 14, 2012 – (RealEstateRama) — On Monday, February 13, 2012, San Luis Obispo celebrated the grand opening of The Village at Broad Street Family Apartments, a development by ROEM Corporation, in collaboration with the City of San Luis Obispo. The grand opening was held at 2:00 p.m. at 2240 Emily Street in San Luis Obispo.

The Village at Broad Street, designed by award-winning architectural firm KTGY Group, Inc., offers 42 one-, two- and three-bedroom family apartments that are affordable to families with annual incomes ranging from 30 percent to 60 percent of the San Luis Obispo County Area Median Income. There is also approximately 7,200 square feet of ground floor retail. The development consists of three stories with surface parking for residents and is located approximately three-quarters of a mile south of San Luis Obispo’s downtown core. Project amenities include a community room with kitchen and library, a computer center, a fitness room, an outdoor playground. The Village at Broad Street also offers a wide array of on-site resident services, including computer classes, ESL classes, and resident events.

Mayor Jan Howell Marx said, “This project is important because it will provide needed rental housing close to downtown, and it will include important intersection traffic improvements to Broad and South Street. The City of San Luis Obispo is excited to bring quality housing in the form of ROEM Affordable Housing to our community.”

This exciting development is environmentally-sensitive and transforms the underutilized infill site into a high-density residential development. The project is constructed using sustainable building methods and incorporates a number of ‘green’ features designed to ensure its long-term energy-efficiency and sustainability.

“We are proud to partner with ROEM and the City on this desperately needed housing as this project is an important addition to our community,” stated Jerry Rioux, Executive Director of the San Luis Obispo County Housing Trust Fund.

The Village at Broad Street Family Apartments is financed with nine percent Low-Income Housing Tax Credits purchased via syndication by Alliant Capital to Met Life Insurance. The American Recovery and Reinvestment Act (ARRA) made additional funding for the project possible. The Village at Broad Street mixed-use apartment project also received strong support from the City of San Luis Obispo in the form of a loan and deferred fees. The architect is KTGY Group Inc., the general contractor is ROEM-ICON Contracting Group, Inc., and the construction manager is ROEM Builders, Inc.

“Providing superior-quality, affordable housing is central to ROEM’s corporate mission,” said Jonathan Emami, Vice President of ROEM Development Corporation. “The Village at Broad Street combines unparalleled access to the amenities that today’s people need and value. With ROEM’s steadfast commitment to true partnerships with local governments and utilization of environmentally responsible building techniques, we feel that The Village at Broad Street has set new standards for craftsmanship, community and sustainability.”

“The Village at Broad Street takes its architectural cues from the nearby downtown area and answers the strong demand for high quality affordable housing for the San Luis Obispo area,” said KTGY Group’s Keith Labus, AIA, LEED AP and principal.

Grand opening celebration speakers included: Mayor Jan Howell Marx, City of San Luis Obispo; Jerry Rioux, Executive Director, San Luis Obispo County Housing Trust Fund; Gregg and Alma Gormley, Residents, The Village at Broad Street Apartments; Mike Hemmens, Director, Citi Community Capital; Jeff Bachman, Senior Vice President, Alliant Capital, Ltd.; Jonathan Emami, Vice President, ROEM Corporation; Robert Emami, President; ROEM Corporation.

About the City of San Luis Obispo – Housing

The City of San Luis Obispo’s mission is to ensure that San Luis Obispo continues to be a healthy, safe, attractive, and enjoyable place to live, work, or visit. The City recognizes its role in promoting a variety of housing types to meet the needs of the community. The City’s affordable rental housing programs are targeted to low- or very low- income households. Affordable ownership housing are targeted to moderate-income households. Visit www.slocity.org for more information.

About ROEM Corporation

ROEM Development Corporation, ROEM Builders, Inc. and their affiliated entities are a full-service development and construction organization that has been specializing in the acquisition, planning, financing, new construction, renovation, and asset management of affordable housing for families and seniors throughout California for over 30 years. As a model developer and proven industry leader in the production of affordable housing, ROEM maintains its commitment to providing high quality housing through its collaboration with the public and private sector and communities alike, while completing developments with quality control and efficiency.

Ranked in the Affordable Housing Finance Top 50 National Developer’s list, and a registered member of USGBC and Build It Green, ROEM is dedicated to creating wholesome communities that are not only sustainable, but are designed smarter and built better to ensure that residents and visitors are healthier, happier, and safer. To date, ROEM has completed 21 affordable housing projects totaling approximately 2,019 units with 329 affordable housing units currently under construction. See www.roemcorp.com for more information.

About KTGY Group, Inc.
Celebrating its 20th year, KTGY Group, Inc., Architecture and Planning, provides comprehensive planning and award-winning architectural design services for residential communities, retail, hospitality, mixed-use and related specialty developments. KTGY delivers innovative solutions that reflect clear understanding of development, market trends and financial performance and takes particular pride in its highly motivated and principal led studios. Serving clients worldwide, KTGY maintains offices in Irvine, Oakland and Santa Monica, Calif., Denver, Colo., and Tysons Corner, Va. See www.ktgy.com.