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SOURCE MVE Institutional
SAN DIEGO, May 2, 2014 /PRNewswire/ -- Celadon at 9th & Broadway in downtown San Diego reached a major milestone yesterday during a "topping out" ceremony, when the last steel beam was placed at the top of the 17-story property. The project is expected to be complete in February 2015.
MVE Institutional, Inc. served as the architect, and BRIDGE Housing, the developer. Celadon will feature 250 affordable homes for individuals and small families. Eighty-eight of the units are targeted to be supportive housing, including 25 units for youth aging out of foster care and adults under the MHSA program, and 63 apartments will serve seniors under the Program of All-Inclusive Care for the Elderly (PACE). Mr. Ernesto M. Vasquez, FAIA, NCARB, Chairman and CEO of MVE Institutional, states, "Celadon satisfies the goals of a cohesive urban community. It offers housing to seniors, the adult workforce, and at-risk youth transitioning from a homeless childhood to adulthood. It is a pivotal project for the healthy growth of downtown."
Monthly rents will range from approximately $408 to $879, depending on income, household, and unit size. Celadon's shared amenities include two community rooms, a seminar room, laundry facilities, and a courtyard garden. Celadon is expected to be LEED Silver certified and will have an eco-roof with drought-tolerant planting, a photovoltaic system, solar water heating, and efficient mechanical systems.
Vasquez states, "We are so proud to be the architects on this unique and exciting development. Kudos to BRIDGE Housing for leveraging several financial mechanisms for this project-from local, to state, to national funds."
BRIDGE Housing President and CEO Cynthia A. Parker said, "We are delighted to bring this volume of affordability and resident services to downtown San Diego, particularly at a transit-oriented location."
Founded in 2003, MVE Institutional has become one of the country's most innovative and respected design and planning organizations. The award-winning firm specializes in planning, architecture, and interior design of corporate, public, mixed-use residential and student housing, as well as institutional facilities. MVE Institutional values institutional and public environments as the foundation of a community and the backdrop against which we live, learn, work, worship, and play. The company is headquartered in Santa Ana with offices in Oakland, San Diego, and Honolulu. For more information, visit www.mve-institutional.com.
Media Contact: Beth Binger
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