Miracle Terrace Apartments
225 S. Western Avenue • Anaheim, CA
Located in one of the nation’s most affluent regions, more than 200 low-income senior citizens who live in Miracle Terrace Apartments in Orange County, Calif., were especially vulnerable to losing their homes with the landlord’s HUD subsidies set to expire in 2019. However, in 2017 the 179-unit complex was purchased for $37.375 million by Community Preservation Partners (CPP) through a joint venture with Jamboree Housing Corporation and the community was rehabilitated in less than a year with $7.4 million invested in renovations and improvements. Most importantly, the residents will remain in their homes through a mix of credits and vouchers procured through a deal the development team struck with the Anaheim Housing Authority.
PARTNERSHIPS
Together, the development team transformed the 45-year-old Miracle Terrace into a modern apartment community with accommodating amenities to be enjoyed by everyone. Each unit received a substantial make-over, including new flooring, counter tops and energy-efficient appliances.
Public Support
- Anaheim Housing Authority
- California Debt Limit Allocation Committee
- California Tax Credit Allocation Committee
Private Investors
- WNC & Associates, Inc.
Lender
- Citi Community Capital
Development Team
- Community Preservation Partners
- Jamboree Housing Corporation
- Irwin Partners Architects
- United Renovation Specialty Group
- FPI Management
- Anaheim Housing Authority
COMMUNITY
Following CPP’s extensive renovation, Miracle Terrace Apartments now has:
- Beautifully-landscaped courtyards
- New and relaxing lawn furniture
- Dog run
- Community gardens
- Library
- Game room
- Computer room
- Fitness center
- Community lounge
- Service coordinator office
- Wellness space
- New Air conditioning in the units
- Energy-efficient appliances
- Water-conservation upgrades
- Exterior paint and façade improvements
- Interior corridor paint, flooring and amenity improvements
- Newly installed vinyl plank flooring in units
- Newly installed countertops, cabinets and flooring
- New and full-size energy star appliance
- New LED lighting
- New window and sliding glass doors
- New roofing, solar PV and thermal PV systems
SUSTAINABILITY
- Energy Star Appliances
- LED Lighting
- High Efficiency Boilers
- Drought Tolerant Landscaping
- Energy Efficient Windows
- Thermal PV
- Solar PV
SOCIAL PROGRAMS
- Health and wellness programs
- Mobility and balance awareness programs
- Service coordination
- Community events
