Featured PROJECTS

LUTHER TOWER 

SAN DIEGO, CA Less

Luther Tower is a 14-story, 200-unit senior community in downtown San Diego. The original non-profit owners, closely affiliated with the neighboring First Lutheran Church, constructed the property in 1964. Over the years their mission evolved. They decided to create a charitable foundation focusing on the needs of the homeless, seniors, and military veterans. However, they were also concerned with preserving Luther Tower for the current and future residents and maintaining the building as high-quality affordable housing for the surrounding community.  They found RAHD Group to be the best partner to continue their mission.

RAHD Group put over $10,000,000 in capital repairs and upgrades into the building with minimal disruption to the tenants’ lives during the construction period. In addition, the RAHD Group implemented a more extensive service program for the tenants to better serve their needs and enhance the community. Notably, the existing property management team wished to remain with the project and the tenants wished for the same continuity. We are proud that they are now partners with the RAHD Group serving the tenants of Luther Tower.

Sorrento TowerLess

SAN DIEGO, CALess

Sorrento Tower is a 198-unit senior community in a 14-story tower, in the San Diego community of Clairemont. The original non-profit owners built the property in 1976. Over the years their mission changed, and they no longer wanted to be involved in affordable housing. However, they did insist on preserving the building and its affordability for the low-income senior community.  

The RAHD Group was selected to complete the rather complex transaction, including navigating outdated HUD regulations, paying the requested purchase price and performing a spectacular renovation of the building. Building upgrades included new plumbing, windows, modern unit interiors and bathrooms, a new roof, boilers, fire alarm system, emergency pull cords and upgrades to all the common areas. All upgrades were completed with minimal disruption to the resident community.

In addition, the RAHD Group maintained existing social services and implemented additional services designed to better serve resident needs and enhance their community. Notably, the original managers wished to remain with the project, and they are now partners with the RAHD Group in the new ownership entity.

Learn More About Sorrento Tower

Garden VillasLess

CHULA VISTA, CALess

Garden Villas (FKA Kiku Gardens) is a 100-unit senior community in Chula Vista, California. It is a 3-story mid-rise building restricted to the low-income senior community. The original non-profit owners built the property in 1981. Over the years their mission changed, and they no longer wanted to operate HUD housing. However, they recognized the importance of protecting the tenants, their rental subsidies and finding the right stewards for the building’s future.   

The RAHD Group performed a major renovation of the building, including new fire sprinkler system, state of the art solar electric system, new windows, beautiful modernized unit interiors and bathrooms, a new roof, boilers, fire alarm system, and upgrades to all the common areas. 

The RAHD Group not only implemented a more extensive service program for the resident community, but also partner with the original owners to provide lunches to the residents and surrounding community on Tuesdays and Fridays. Notably, the sellers’ longtime property managers wished to remain managers of the building and continue to operate the building to this day.

ESCONDIDO GARDENS

ESCONDIDO, CA 

Escondido Gardens Apartments is a senior rental development located in Escondido, California. The property was purchased in a partnership that includes The Alpha Project (the original non-profit owners) and the RAHD Group. The project consists of 92 one-bedroom apartments in a garden-style property consisting of 11 two-story apartment buildings, and one building that houses the manager’s office, laundry facility and community room.

The project was in decent condition, but after 45 years, it was in need of an infusion of capital so that it could be preserved as affordable housing for the long term. The substantial renovation went beyond improving the structure of the buildings and the interior of each unit, RAHD Group also added a large Photovoltaic (solar PV) system and drought tolerant landscaping in order to adhere to its environmentally friendly mission. The solar system will provide nearly all of the electrical needs for the common area and the tenants’ usage inside of the units. The renovation and preservation of Escondido Gardens has made a substantial impact on its tenants and the surrounding community. 

Wesley Terrace 

San Diego, CA Less

Wesley Terrace is a 161-unit senior community located in the San Diego community of Talmadge, near San Diego State University. It is a 9-story tower consisting of both one-bedroom and studio apartment homes. Wesley Developments, the non-profit owner/operator, built the property in 1973. While they did not want to sell Wesley Terrace, they sought out a professional partner to help them fully renovate the property, realize significant equity to fulfill their mission, expand services, and continue to offer high quality senior living to the community. Wesley Developments found that partner in the RAHD Group.

The RAHD Group created a partnership with the owners that did not require them to relinquish control of the property but does allow RAHD to perform a spectacular renovation of the building. This renovation will include all new plumbing, new windows, new unit interiors and bathrooms, a new roof, and upgrades to all the common areas. The RAHD Group will also implement a more extensive service program for the tenants to better serve their needs and embrace the cultural diversity of the building community. The RAHD Group’s unique “partnership model” is perfect for non-profit owners, like Wesley Terrace, that want to improve the property, expand services, and protect the tenants without having to sell. 

Sea Breeze GardensLess

SAN DIEGO, CALess

Built in 1969, Bay Vista Methodist Heights was an early exemplar of public housing success. However, after 37 years of owning and managing the apartment complex, the non-profit owners understood that the building was in need of repair, an upgrade to its security system and a new approach to dealing with complex tenant and community issues that had been the subject of bad press and political scrutiny.  

The building’s purchase and renovation was financed with tax-exempt bonds and state-allocated federal tax credits. During the first year, the group completed a $10 million renovation of the property, including completely new unit interiors, new community rooms, new playgrounds, enhanced security measures and a new daycare facility. In addition, an array of social services were implemented, including after-school care, one-on-one tutoring, day care, computer training, work training and much more. 

The property had an expiring Section 8 contract, and residents were within three years of losing their rent subsidies. Working closely with HUD, the HAP contract was preserved and extended for an additional 20 years, protecting the tenants long into the future. Now, the property is beautiful and stable, and the community is better off because of the RAHD Group’s participation in the acquisition and renovation.

Hudson Townhouse ManorLess

ANTIOCH, CALess

Hudson Townhouse Manor is located in the city of Antioch, California. It is a garden-style family community consisting of 122 units, 119 of which are under a HAP Section 8 subsidy contract. 

Hudson was originally under the LIHPRHA program (a HUD program that severely limits rental income), which made this transaction unusually difficult. Developers usually steer clear of these types of deals, but the RAHD Group tackled it head on. Today, the apartment community is in excellent condition and is a great example of The RAHD Group’s commitment to meeting all parties’ objectives, while enhancing living conditions and communities. 

In the past, Hudson Townhouse Manor had security challenges similar to many urban multi-family apartments. However, as part of the $4 million property renovation, the new ownership team installed a state-of-the-art security camera system and built a brand-new community center. With the addition of this system, terrific management and an understanding of the tenants’ needs, this property is tranquil, in excellent condition and is an example of the critical nature of hands-on ownership.

GOLDEN AGE GARDENS

SAN DIEGO, CA

Golden Age Garden Apartments is a senior multifamily rental development located in San Diego, California. The property was purchased from the original owners who built it in 1982. The development consists of 76 one-bedroom units in a four-story building.  

The project was in decent condition, but after 25 years, it was in need of an infusion of capital so that it could be renovated and preserved as affordable housing for the long term. The property is still restricted to seniors, and all 76 units are covered under a HAP contract.

This transaction was financed by HOME funds, provided by the City of San Diego, and tax-exempt bonds. After closing, the project received an allocation of ARRA funds which went to further renovate the building. Because Golden Age Garden Apartments is located in an underserved community, the renovation and preservation of the building has made a huge impact on its tenants and the surrounding neighborhood.

The RAHD GroupLess

2851 CAMINO DEL RIO SOUTH, SUITE  200 B

SAN DIEGO, CA 92108

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