Kuehner Homes: A Mixed Income Development Brings Affordable Homes to Simi Valley

Things are looking up for working families seeking to become first time homebuyers in the City of Simi Valley. In this rapidly growing community where the median home price has topped over $463,000 as of July 2004, affordable for sale and rental housing is scarce, driving the price of home ownership out of the reach for many first time homebuyers. So when CEDC learned of an available parcel of land suitable for development they jumped at the opportunity.

That opportunity is now slated to become Kuehner Homes - 26 detached single-family 3 and 4 bedroom units on 3.8 acres in Simi Valley. Kuehner Homes is a mixed income development where growing families can achieve their dream of home ownership in an area that would otherwise be out of reach.

"The financing requirements to subsidize the affordable units are a big challenge. The City of Simi Valley really stepped up to the challenge by providing the level of subsidy needed to secure the additional layers of funding that were necessary to drive down the costs to an affordable level. The City has also been instrumental in working with CEDC to design the project. Our quality design will enhance the neighborhood, thereby increasing property value," says Jesse Ornelas, CEDC Senior Project Manager for the development.

Bob Cottle, Senior Planner for the City of Simi Valley adds, "There's a real shortage of housing for low and moderate income residents and Kuehner Homes will help to alleviate that. It won't solve the problem, but it's a step in the right direction." He adds further that, "We could use another two or three of these."

Kuehner Homes is scheduled to start construction in early to mid 2004. The architect for the project is Brady Roark and CEDC will serve as the general contractor. Funding partners include: The City of Simi Valley, Neighborhood Reinvestment Corporation, FHLB / AHP, the Low Income Investment Fund, State of California HOME and Cal HOME.

For more information, please call the CEDC office 805.659.3791.