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FivePoint Communities announces strategic alliance with Related California and Riverside Charitable Corporation to build affordable senior housing

IRVINE, Calif. (Aug. 8, 2014) – FivePoint Communities, development manager of Great Park Neighborhoods, today held a groundbreaking ceremony to mark the beginning of construction of Solaira at Pavilion Park, a 221-unit affordable senior rental home community slated to open in 2015.

Solaira at Pavilion Park is a collaborative project between FivePoint, Related California and Riverside Charitable Corporation, and will be Irvine’s first new affordable senior community in nearly 20 years. In addition, this is the first of many affordable rental communities to be built at Great Park Neighborhoods which will have a diversity of homes and pricing. This master-planned, mixed-use community adjacent to the Orange County Great Park will ultimately include 1,056 affordable rental homes.

Related California is one of the most prominent; privately owned real estate firms in the state and one of the largest developers of affordable rental housing, with over 8,000 homes built. It brings years of experience of owning and managing senior housing and understands the needs of the senior community.

Riverside Charitable Corporation (RCC) has had a working relationship with FivePoint Communities for nearly 10 years. Through its LifeSTEPS program, RCC operates one of the broadest social service programs of any housing-oriented nonprofit organization, and will bring their extensive experience to the residents of Solaira at Pavilion Park.

“The City of Irvine, under the leadership of Housing Manager, Mark Asturias, has been at the forefront of providing quality, affordable housing. We are pleased to have Related California and Riverside Charitable involved in this new community, building upon the outstanding reputation that has already been established in the city,” said Emile Haddad, chief executive officer of FivePoint Communities.”

The Community
Designed to complement the American Heritage architecture of Pavilion Park, Solaira will include 189 one-bedroom and 32 two-bedroom rental homes. The community will provide a range of amenities including a pool, spa, a fitness center, putting green, bocce ball court and a multi-purpose building. It is located on Ridge Valley Road across from the neighborhood’s namesake Pavilion Park and adjacent to the Orange County Great Park.

Great Park Neighborhoods is envisioned to create opportunities for multiple generations to live in the same neighborhood. From the park-like setting to the walkable trails and streets, the Pavilion Park neighborhood will provide seniors with a setting that is both serene and full of life.

“Solaira at Pavilion Park will offer a high-quality lifestyle to seniors in a unique setting and in close proximity to the Great Park,” said William A. Witte, president of Related California. Solaira at Pavilion Park matches the care and attention to detail that went into planning this neighborhood and we look forward to welcoming the first residents next year.”

The application and qualification process for prospective residents of Solaira at Pavilion Park will be overseen by Related Management Company.

FivePoint Communities oversees some of the largest mixed-used projects in California, including Great Park Neighborhoods. The first of the Great Park Neighborhoods, the 726-home Pavilion Park, opened in the fall of 2013 and is in the final stage of sales. The heart of the company’s philosophy is to build sustainable communities that encourage an active life style. Headquartered in Orange County, FivePoint has been involved with the planning, design and development of communities for more than 10 years.

Formed 40 years ago, Related California is a fully integrated real estate firm that develops affordable and market rate multifamily and mixed-use residential properties in California. Since opening the west coast headquarters in 1989, the Company has completed nearly 9,000 residential homes throughout California. Related California has partnered with over 20 municipalities in Northern California and Southern California.

For 25 years, Riverside Charitable Corporation (RCC) has been a provider of affordable housing and charitable services that includes professional social and educational programs for families and the elderly. To date, RCC has helped create 123 affordable communities throughout California. Their homes are created using combinations of bond financing, low-income housing tax credits and a variety of government resources.

Great Park Neighborhoods is a master-planned community located adjacent to the Orange County Great Park in the heart of Orange County, California, in the City of Irvine. The multi-generation neighborhoods include a variety of residential choices with features that encourage neighbors to connect with each other and with nature. Great Park Neighborhoods is ultimately envisioned to include an innovative blend of “main street” retail, office, commercial and educational uses. Walking and biking trails are incorporated into the neighborhoods and will connect to open space, future neighborhoods, the Orange County Great Park and to the larger Irvine and Orange County Bikeway systems.


Carol Wold, FivePoint Communities

Bea Hsu, Related California

Ken Robertson, Riverside Charitable Corporation
714-628-1654 x719