VILLAGE AT HESPERIA
Abundant amenities enhance the convenient location. Smart financing turns the dream into reality.
The Village at Hesperia is a two-phase 89-unit senior affordable apartment community located in Hesperia, CA. Both phases were completed in 2005 and are composed of two and three-story elevator-served buildings. The seniors community is reserved for tenants earning less than 30%, 50%, and 60% of the Area Median Income (AMI).
Tenants have easy access to a centrally-located 3,000 square foot community center, swimming pool, work-out facility, and picnic areas. Plus, the project is located within the City of Hesperia’s new Civic Center Master Plan, which includes a new City Hall and Public Library. The project features numerous energy-efficient and environmentally friendly characteristics including a new underground stormwater retention system and subsurface irrigation system specifically designed for a warm climate to conserve water consumption.
The Village at Hesperia presented a unique challenge. KDF took over these properties from an unrelated developer who discovered it had a significant funding shortfall. The project had been stalled for over a year until KDF was able to obtain additional HOME funds, tax-exempt bonds, low-income housing tax credit equity, and Redevelopment Agency funds to fill the funding gap. Additionally, KDF worked with the project architect to redesign the buildings to include elevators and worked with the civil engineer to redesign the mass grading plan to make the project conform to the existing grades. These changes represented significant cost savings for the project.
89-unit, senior apartment community located in Hesperia, CA.