Hale Makana O Maili mentioned in Pacific Business News

Our project, Hale Makana O Mailii, is mentioned i n the article, Four Hawaii affordable rental projects get tax-credit financing, in Pacific Business News. Here a couple excerpts from the June 21, 2018 article by Janis L. Magin:

Four planned affordable housing projects with nearly 200 units on Oahu, Kauai and the Big Island have been awarded state and federal low-income housing tax credits by the Hawaii Housing and Finance Development Corp. The sale of the tax credits will help the developers finance the cost of building the affordable projects, which have a collective budget of more than $82 million, according to HHFDC, whose board approved the financing last week.

The second-largest project, Hale Makana O Maili, is planned for a site adjacent to the Nanakuli Village Center, a commercial complex being developed by the Hawaiian Community Development Board, with a total budget of $21.8 million. The project will have a total of 52 units, including 51 affordable one-, two- and three-bedroom rentals for tenants making 30 percent to 60 percent of the AMI, and a manager’s unit. 

Please see full article here.

Chris Flaherty talks about Medici Artist Lofts on Fox40 News

One of our new projects, The Medici Artist Lofts was in the Fox40 news on May 31st, 2018.

Here is an excerpt from reporter, Karma Dickerson:

STOCKTON — An old downtown Stockton building is being put to new use.

Thursday was the official groundbreaking at the former Medico Dental building on North Sutter Street. From Medico to Medici, like the famous patrons of the arts, the developers want to create a space for artists to grow and for downtown Stockton to thrive.

“We believe in downtown, we believe in housing downtown,” said Chris Flaherty, CEO of 3 Leaf Holdings.

Since 1927 the Medico Building has loomed over Miner and North Sutter streets in Stockton but as developer Flaherty says, it’s got good bones.

“It’s constructed very well. The project will have exposed ceilings, as you see here, with rigid duct, and it will be a very lofty style space,” Flaherty explained.

On Thursday, Flaherty, joined by other developers, architects and city leaders, announced the official groundbreaking on the project to transform the 12-story building into 34 lofts, primarily geared toward giving artists affordable living space.

Read the rest of the article here.

Downtown Stockton buildings are in the abc10 News

Downtown Stockton is growing and changing. Our CalWeber40 building and our new Medici Artists Lofts are talked about in the abc10 News video, Downtown Stockton growing amid housing surge, below. 3Leaf Holding’s, Chris Flaherty discusses the projects.

Medici Artists Lofts in the CBS Sacramento news

On November 3rd, 2017 Carlos Correa, from CBS Sacramento news, reported about one of the oldest buildings in Stockton that will be renovated into artist lofts. Medici Artist Lofts is one of 3Leaf Holding’s collaborative projects. Please read an excerpt from the article below:

STOCKTON (CBS13) — One of the oldest and largest buildings in downtown Stockton is about to undergo a huge renovation as part of the city’s plans to help revitalize and bring more life to the area.

The structure, which is roughly 90 years old, is turning into a mixed-income apartment building. It’s a first of its kind project focused on attracting area artists and retail.

A few days ago, Stockton business owner Patricia Ayala became part of the downtown landscape with a new hair salon located inside an old building that was recently refurbished.

“It felt like this is the place that we were meant to be; it’s so multicultural around here, you see lawyers walking by, you see the kids walking by. It’s so urban, yet so sophisticated,” said Ayala.

Ayala is expecting her list of clients to grow once Stockton’s first mixed-income apartment project is complete. Developers are turning the 90-year-old Medico-Dental building into the Medici Artist Lofts, creating 33 units, most of which will be affordable housing.

Please read full article here.

Medici Artists Lofts in Comstock's

photos courtesy of TensSpace

In Comstock’s October 25, 2017 article, Mixed-Income Apartment Project Coming to Downtown Stockton, Zack Quaintance reports about the Medici Artists Lofts in Stockton, Ca. Here is an excerpt from the article:

The Medico-Dental Building in Stockton, one of the city’s defining structures since it was built roughly 90 years ago, is about to undergo a rebirth as mixed-income apartment housing with retail on the ground level and a theme designed to attract artists.

The building is being given new life thanks to a joint venture between the Housing Authority of the County of San Joaquin, Ten Space Development and DFA Development, which was the same developer for Cal Weber 40, another refurbishment project that converted old buildings in Stockton’s downtown into housing. This latest project is called The Medici Artist Lofts, a name that Chris Flaherty of DFA Development says pays homage to the building’s previous name, containing elements of both medical and dental, and an allusion to the House of Medici, one of the Italian royal families that helped give birth to the Renaissance.

The Medici Artist Lofts project consists of 33 total units, 27 of which will be considered affordable housing, meaning they will be reserved for residents and families who earn between 30-60 percent of the countywide median income. The remaining six units will be rented at market rate, earning the project the designation of mixed-income. The entire building will be geared toward residents who live the art life, and because of this it will feature amenities such as gallery space and an area for receptions and other events aimed at cultivating Stockton’s creative culture.

“For aspiring artists, it’s very difficult for them to practice and hone their crafts and hold down a job that would pay as much as they would need to afford housing,” Flaherty says.

Read full article here.

CalWeber and Medici Artist Lofts on KCRA 3 News

Reporter, Kathy Park from KCRA 3, mentioned some of our projects in the article, Stockton Rising: Major development projects on the horizon, published on October 4, 2017. Here is an excerpt from the article:

STOCKTON, Calif. (KCRA)

Stockton's downtown landscape is on the verge of a major transformation.

A mixed-used development cleared a big hurdle Tuesday night. It has the possibility to spur more growth in the city.

Here are 3 things you should know about the changes ahead:

1) Cost of new housing complex

The $67.5 million Open Window Project is slated to bring more than 1,000 residential units and 400,000 square feet of commercial and retail space to downtown Stockton. The city approved $6 million to cover off-site infrastructure like sidewalks and streets.

2) New Stockton Housing

The Open Window Project will be the first market-rate residential project in downtown Stockton in decades.

Cal Weber 40 is one of the latest residential projects -- and is downtown Stockton's first affordable housing development.

Renovation of the vacant Medico-Dental building is slated to break ground this spring, clearing the way for construction of the Medici Artists Loft, which will have both affordable and market-rate units.

The full article and video is here.

Nanakuli shopping center in Pacific Business News

In Pacific Business News’s article, Longs Drugs opening Makaha store, preps to start on new Nanakuli shopping center, 3Leaf Holdings is mentioned as part of team of developers. Here is an excerpt of the article:

CVS is opening its newest Hawaii Longs Drugs store in Makaha this weekend, and construction of the $20 million Longs Drugs-anchored Nanakuli Village Center, which will also have an urgent-care clinic and a dialysis facility as well as other retail and restaurant tenants, is set to start in the next couple of weeks.

The 18,130-square-foot Longs Drugs store is opening Sunday in the old Cornet building at the Makaha Gateway center at the corner of Farrington Highway and Makaha Valley Road. KZ Cos., which has built or renovated more than a dozen Longs Drugs stores in Hawaii, handled the renovation of the building, which has been vacant since Cornet closed its variety store in 1995.

KZ delivered the renovation of the Longs store ahead of schedule with Allied Builders Systems as the general contractor, Lucky Cole, the owner of Team Real Estate who bought the 3.5 -acre Makaha Gateway property in 2000, told Pacific Business News. Cole said Longs has signed a 40-year lease on the space.

Cole said work is still being done to renovate the rest of the Makaha Gateway, which includes the 32,000-square-foot Gateway marketplace, a 24,000-square-foot three-story office building and a 24,000-square-foot warehouse. Glenview Construction is the general contractor on that project.

Cole hired local artist Solomon Enos, who grew up in Makaha, to paint a mural on the point of the building at the corner of Farrington Highway and Makaha Valley Road. Enos also painted petroglyphs on the columns of the buildings.

Cole also said he is in the process of dividing the property into two two-unit commercial condominiums, with the Longs store and the marketplace forming Makaha Gateway Makai and the three-story building and warehouse forming Makaha Gateway Mauka. Cole also plans to develop a vacant lot behind the warehouse for parking.

Down the highway in Nanakuli, Kali Watson, president and CEO of the Hawaiian Community Development Board, said Friday that he expects to close on financing for the Longs-anchored project with American Savings Bank and Punawai O Puuhonua by early next week. Punawai O Puuhonua, a community development entity formed in 2010 by American Savings Bank and the Oahu Economic Development Board, has received new markets tax credits for the project.

The shopping center is being developed on a 12-acre parcel of land adjacent to Nanaikapono Elementary School by a collaboration of HCDB, the Nanakuli Hawaiian Homestead Community Association, 3Leaf Holdings and Sofos Realty Corp., which handled the leasing. Deide Construction is the general contractor.

Read full article here.

Hale Makana O Maili development in the Pacific Business News

photo by Pacific Business News

Katie Murar reported in the Pacific Business News about one of our new development proposals. The Hale Makana O Maili development on the Waianae Coast is an affordable rental complex. Here is an excerpt from the article, Affordable rental project proposed for Oahu's Waianae Coast:

A 52-unit affordable rental development called Hale Makana O Maili is being proposed for Maili on the Waianae Coast.

The low-rise rental apartment complex will be built on a 1.95-acre portion of a 2.78-acre parcel on the Waianae Coast, will consist of six buildings, and will be designated for those making 30 to 60 percent of the area median income. The design will include 39,030 square feet of residential space, a 2,342 square foot community center, and 70 parking stalls, according to a draft environmental assessment filed with the Hawaii State Department of Health’s Office of Environmental Quality Control.

The project is being developed by Pacific Development Group, 3 Leaf Holdings, Inc. and the Hawaiian Community Development Board.

“This project attempts to address one of the most difficult challenges for our local people – access to affordable housing,” Kali Watson, CEO of the Hawaiian Community Development Board, told Pacific Business News. “Only through a collective effort of private developers like ourselves, government agencies, and the community at large can we provide such solutions.”

Read the full article here.

...and in Pacific Business News

In Pacific Business News’s article, More details revealed on Longs-anchored Leeward Oahu shopping center, reporter Duane Shimogawa discusses the new Nanakuli Village Center. Here is an excerpt from the article from January 20th, 2017.

Read full article here.

NANAKULI VILLAGE CENTER in the Pacific Business News

Duane Shimogawa reported in The Pacific Business News about our project, the Nanakuli Village Center in the article called, Long-Planned Oahu Shopping Center Could Be Done In 2017.

Here is an excerpt from the January 13th, 2017 article:

The long-planned Nanakuli Village Center in West Oahu is projected to open as early as this year, according to a new report by commercial real estate firm Colliers International Hawaii.

The Department of Hawaiian Home Lands and the Nanakuli Hawaiian Homestead Community Association are the developers of the 34,733-square-foot Longs Drugs-anchored shopping center in Waianae, which could be completed in the 2017-18 timeframe, according to the report.

The center also could include such tenants as Starbucks, Supercuts, Pizza Hut, Wendy’s and L&L Hawaiian Barbecue, according to marketing materials from Sofos Realty Corp., which is handling leasing for the Farrington Highway center.

The center, located on Farrington Highway near Nanaikapono Elementary School, will have about 16 other small retail tenants.

Read the full article here.

Medici Artist Lofts In the Stockton Record

The Stockton Record’s artcile, “New Affordable Housing Projects In Line For $2.6M Boost” reports about our upcoming project, the Medici Artist Lofts. Record Staff writer, Roger Phillips reports about the new development in downtown Stockton.

STOCKTON – Completing a four-month competitive process, the city is expected tonight to award $2.687 million in federal funds to the developers of three projects that propose to create sorely needed additional affordable housing in Stockton.

The funding, which is pending approval by the City Council, is good news for the developers of the three projects selected.

But five other groups that sought a combined $5.7 million for seven other proposed projects most likely will leave tonight’s meeting empty-handed – a clear sign that funding lags far behind demand when it comes to the development of affordable housing.

“There’s just not enough money out there,” said Carol Ornelas of Visionary Home Builders, who was shut out on her two bids worth a combined $1.6 million.

The San Joaquin County Housing Authority also fell short on its two proposals, worth a total of nearly $1 million.

“I fully understand there’s more need than there are dollars, but I feel I have to advocate for my projects, too,” said Peter Ragsdale, who heads the Housing Authority.

Ragsdale said he plans to attend tonight’s council meeting.

The city is recommending the council approve three projects:
Medico Artist Flats, $2.25 million. DFA Development is planning a 41-unit multifamily project in the 12-story Medico-Dental Building at Sutter Street and Miner Avenue downtown. Thirty of the units would provide affordable housing.

The project is by DFA Development, which is responsible for the Cal Weber 40 affordable housing project completed downtown earlier this year. Cal Weber 40 was fully leased well before its opening.

Medico Artist Flats is to be the first concrete result of the ambitious Open Window Project to revitalize downtown, a 15-square-block plan unveiled by the Ten Space development firm nearly two years ago.

Read the full article here.

Letter to The Record about the Challenges Abound In Public Housing

In his letter to The Record Peter W. Ragsdale writes

I write to thank you for the coverage in the Feb. 9 Record on our ribbon cutting at the Conway Apartments, one of the many public housing properties managed by the Housing Authority of the County of San Joaquin.

However, I’d like to clarify some of the financial points covered in the article. While HUD estimates a capital backlog of public housing in the billions, absent an increase in funding, there are no current opportunities available from HUD to meet these needs. Thus, while our local HACSJ receives approximately $1.8 million dollars annually in Capital Fund dollars from HUD, this sum only addresses a small portion of our properties’ capital needs. This reality has existed for almost 10 years and must be immediately addressed.

Therefore, most public housing authorities (“PHAs”) have, over the last five-plus years, looked for other options and have not rested on their laurels. Most PHAs have applied for Low Income Housing Tax Credits (“LIHTC”) Program. This LIHTC Program, which is co-administered by the Internal Revenue Service (IRS) and the California Tax Credit Allocation Committee (TCAC), provides capital funding to develop affordable housing.

Most nationwide experts and experienced public housing executive directors agree that this program remains the best vehicle to modernize public housing stock. Frankly, the combination of tax credits for development and rental subsidy from HUD, are currently the only truly effective method to meet the billions of dollars needed to modernize the public housing properties in the county. The time is now for this agency to explore new funding opportunities.

Although the Authority has not been involved in tax credit development, the HACSJ’s Board of Commissioners and I recognize this priority and are taking steps to move into this program by agreeing to participate as a non-profit sponsor in partnership with DFA Development for the development of Cottage Village Apartments in Manteca. This first step in evaluating the tax credit application process is a necessary, and frankly, a critical step to protect this needed community public housing.

Again, thank you for coverage and I appreciate all the support, effort and kind works that make the occasion of a ribbon cutting memorable.

— Peter W. Ragsdale is executive director of the Housing Authority of the County of San Joaquin.