DEVELOPMENT PROJECTS
Carob WAy Village
The Carob Way Village Development Project built 5 Single Family Homes each home has 4 bedrooms 2.5 baths, and a 2 car garage, with 2 stories. The village targeted First Time Homebuyers at 80% of median income or less, and veterans. The development project was completed in 2016 and all homes were sold using the MHDC Down Payments Assistance Program, a City of Montebello Silent Second Program, and CalHFA funds.
This project included the naming of the Street to Robert J. King Court in honor of MHDC’s first Board President, and Past City of Montebello Fire Chief.
Bella Monte Homes LLC
One of MHDC’s most recent development was a blighted property bequeathed by the City of Montebello, for one dollar, with the sole purpose of providing quality affordable housing. The six-home development on Third Street had an estimated value of $1.75 million at the conclusion of the project
Bella Monte Homes was made possible, in part,by a generous gift from the Moen’s “Alcanzando Sueños Con MOEN”
The Lohart Street Project
lt of MHDC’s partnership with the Los Angeles Design Center and the City of Montebello. The beautifully designed development with well lit walkways not only greatly improved the aesthetic of the surrounding area but helped to significantly reduce crime in the area. The property was donated by MHDC; the Los Angeles Design Center designed and developed the project
City of Montebello Economic Development Department in partnership with the MHDC coordinated the project.
The Jacmar Street Development
This four-home project, valued at $616,000, faces north on Jacmar and is east of Carob Way within the City of Montebello. The city helped acquire the property, MHDC was responsible for the entitlement and Mr. Phil Pace, California State Water Board Member, helped develop this project. The first “Turn Key Construction Project” for MHDC meant that MHDC gives the keys to a move-in condition home to the buyer.
All of the homes were raffled to first-time homebuyers in the area
The 5th Street Project
The property for this project was acquired through foreclosure, after MHDC became the silent second lien holder. MHDC rehabbed the home and found a community faith-based non-profit partner — New Harvest Group, a group home for men in recovery and rehabilitation run by the New Harvest Church in Norwalk, CA. New Harvest signed a Sweat Equity lease agreement with MHDC in which they agreed to facilitate and assist with beautification projects in the community. The New Harvest men’s group provides landscaping with dual purposes: to sustain themselves and to rehabilitate the members of the group home
Paramount Plaza (MHDC Headquarters):
Purchased in 2003, Paramount Plaza is MHDC’s office building and is located at 1619 Paramount Boulevard. MHDC retains sole ownership of the building which includes office space rentals. The commercial rentals from the plaza help support MHDC’s non-profit work: providing service, information and resources to clients looking for affordable housing.
