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Affordable-housing developer says vapor-intrusion requirements threatened financing and design of Anaheim project
Summary
Developers of a 47-unit affordable housing project in Anaheim said vapor-intrusion cleanup testing, uncertain long-term monitoring costs and uncoordinated agency deadlines put a TCAC funding readiness date at risk and required budget tradeoffs on resident services and design.
Developers described at the workshop how vapor-intrusion assessment and long-term monitoring requirements affected financing, design and schedules for an affordable-housing project in Anaheim called Lincoln Beach. Maricela Fuller, director of real-estate development for Innovative Housing Opportunities (IHO), and Renee Funston, project manager for Link Housing, outlined the project and the challenges it faced. The site is roughly 0.65 acres and the planned development includes 47 apartments for seniors and…
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