KMA Project Opening - Lillian Court and Bloomington Grove
KMA is pleased to announce the recent opening of the Lillian Court and Bloomington Grove project, a 106-unit affordable housing apartment community that includes a 6,700 square foot public library. The project is located on a five- acre site in the unincorporated Bloomington area of San Bernardino County. KMA was the real estate advisor to San Bernardino County and helped structure the P3 transaction with developer Related California.
The affordable housing component of the project consists of 70 units of affordable senior housing at Lillian Court, and 36 affordable townhomes for families at Bloomington Grove. The development also includes community space and a senior center. A second phase will include 84 affordable family townhomes and is projected to open later this year.
KMA prepared a reuse valuation analysis, as the property was part of the former San Sevaine Redevelopment Project Area. The property was conveyed by the County to the Developer under a long -term ground lease. Additional financial assistance was also provided by the County, including: NSP 3 funds, county housing monies, and tax-exempt bond funds.