Community Housing Development Corporation

of North Richmond

 

Changing Lives, Block by Block

 

Chesley Mutual Housing

On September 30, 2005 Eden Housing, Inc. and CHDC celebrated the grand opening of Chesley Mutual Housing (CMH).  Honored guests, including the honorable Mayor Irma Anderson, City Council members and City staff, and other supporters and community members were in attendance.

CHDC and Eden Housing collaborated to build the 30-unit development at 802 Chesley Avenue in partnership with the City of Richmond’s Redevelopment Agency.  The development was designed by the architectural firm of Kodama / Diseño and it’s lively design consists of well-defined shapes and skillfully mixed arrangements of unit types and exteriors.  A 1,900 square foot community building is situated in front of a central green and houses the management office, a community room for use by the residents.  There is also a tot-lot with a play structure for younger children.

Chesley Mutual Housing provides families with an affordable alternative to traditional home ownership and a significant step up from traditional rental housing.  Mutual Housing is owned by a Mutual Housing Association and residents are members of the Association that owns the property.  CMH takes a different approach to mutual housing.  At CMH, CHDC and Eden Housing, Inc. will remain in ownership for at least the first 15 years of the development.  These non-profit groups will set up a Management Team comprised of residents and representatives from the community.  This team will provide input to CHDC and Eden into how the property is run and the services to be provided.  Residents will have a significant voice in decision-making.  Although residents cannot buy or sell their units directly, they will have a pride of ownership that is usually associated with home ownership. 

 The housing is affordable to families earning up to 30%, 40%, and 50% of the area median income.  For a 4-person family, that would mean earning up to $24,840, $33,120 and $41,400 respectively.

The $10.2 million development was financed by funds from the Richmond Development Agency, the City of Richmond, and a tax-exempt bond through U.S. Bank.  Apollo Housing Capital Corporation is the tax credit investor.  The vital tax credit program provides tax incentives for private corporations to invest in affordable housing.

©2005 Community Housing Development Corporation of North Richmond  

1535A Third Street     Richmond, CA 94801     Phone: (510) 412-9290     Fax: (510) 215-9276