1 minute read

The History of Almond Gardens Fourplexes

Next Article
Project Location

Project Location

Over the Years...

The history of Almond Gardens dates to decades ago, perhaps in the 60s. It was composed of 20 fourplexes under one ownership named Almond Gardens. All 20 fourplexes were lined up against Almond Street on both sides. Inadequate number of parking spaces that were perpendicular to Almond Street combined with the lack of street scape and landscaping made for a very cluttered scene, one that was infiltrated with some unruly elements that diminished the quality of life for the tenants.

Advertisement

In 1990, these fourplexes were acquired by the Redevelopment Agency of the city of Suisun City. Instead of demolishing all the fourplexes, because they were in better shape compared to all the other fourplexes that were demolished in the former Crescent neighborhood, they went under major rehabilitation and reconfiguration. 7 of the 20 fourplexes were demolished to make room for off-street designated parking spaces. The units were remodeled, and the courtyards were gated to reclaim the open space for the residents. Almond Street was reconfigured with lush landscaping, street trees, and decorative streetlights that significantly improved Almond Street.

Over the following three decades, Almond Gardens has enjoyed tranquility and peace. However, the physical condition of the fourplexes tells a different story. The Old Town Suisun, where Almond Gardens is located is built upon bay mud. The foundations of the Almond Garden fourplexes were not designed and constructed to withstand the soil expansion that occurs in this type of soil.

In 2008, the city commissioned a study to determine whether to rehab or rebuild the Almond Gardens fourplexes. The conclusion was that “A rehabilitation of Almond Gardens as proposed, is not economically or physically viable...” At the time it was recommended that the city contribute $7,608,767 to secure 9% financing for the project.

In 2021, Harbor Park, LLC. signed a DDA with the Housing Authority to redevelop Almond Gardens into 99 apartment units that replaced the existing 52 affordable units, and added 47 new market units with the anticipation that the new market units would generate sufficient revenues to sustain the project. Under this arrangement, the City’s contribution was going to be as little as $850,000. Unfortunately, this financial structure became infeasible rather quickly as the increasing inflation and rising interest rates rolled in with 2022.

In 2023, the financial sources for a project the size of Almond Gardens is limited to Tax-Credit financing. The preparation and focus needs to stay on Tax-Credit financing as a viable method, while considering other potential sources of financing such as the State of California, or ABAG affordable housing funds that may become available.

This article is from: