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Affordable housing coming to Portola Springs

Irvine Company and Anton Development Co., team up to build 256 ‘affordable’ apartments

IRVINE, Calif. — Construction has started on 256 affordable housing apartments coming to Portola Springs Village in northern Irvine.

The Anton Portola apartment community will provide “very-low-income” housing—also called workforce housing—for those earning less than half the area median income.

“It is important to provide housing at all levels of affordability,” says Trisha Malone, chief financial officer of Anton Development Co., lead partner in the project. “That allows teachers, police officers and firefighters to live in the community in which they work.”

Rents likely will start at about $900 for one-bedroom apartments and about $1,100 for two-bedroom apartments. Anton Portola is expected to start pre-leasing in November and open in early 2017.

Affordable housing is a big need in Orange County, and Irvine Company contributes a healthy portion of it. The company has built or helped build more than 4,000 affordable housing units in Irvine with another 1,000 planned. It also has committed 17 acres to the City of Irvine for future affordable housing.

“It’s a life changer for thousands of families,” says Irvine Company’s Senior Director of Affordable Housing Operations Barbara Breton.

For Anton Portola, Irvine Company provided 10 acres of land framed by the backdrop of Loma Ridge. It will feature a resort-style pool, clubhouse and three parks: a dog park, a multi-age playground, and open space for impromptu football games or ultimate Frisbee.

Irvine Company also provided financial backing and a strong guiding hand in planning Anton Portola, its second partnership with the team that now is Anton Development Co.

“Irvine Company holds its partners, consultants and builders to very high standards as is evident in the quality of final apartment projects,” says Anton’s Malone. “The city and residents are the ones who ultimately benefit from these high standards.”

— April 2016