Crestview Terrace in San Bernardino, CA won a 2022 Charles L. Edson Tax Credit Excellence Award in the Small Metropolitan Area category.
Crestview Terrace, developed by National Community Renaissance in partnership with the Housing Authority of the County of San Bernardino (HACSB), provides 184 affordable homes serving individuals and families in San Bernardino, California. The property represents a collaborative approach to neighborhood revitalization, reflecting the shared vision of San Bernardino residents, businesses, educational institutions, and government leaders to convert a 1940s-era public housing site into affordable housing property to serve one of San Bernardino’s most under-resourced neighborhoods. The 4 percent Low-Income Housing Tax Credit (Housing Credit) was used to finance the property, with direct investment provided by Bank of America.
Located in the heart of San Bernardino, Crestview Terrace provides homes primarily for individuals and families earning below 30, 50, and 60 percent of the area median income. Residents benefit from in-unit laundry amenities, business center, community kitchen, community room, playground, outdoor recreation area and exercise equipment, and a swimming pool. The property also received an Affordable Housing and Sustainable Communities grant from the California Strategic Growth Council, and as part of this funding, all residents were provided with a bike, complimentary bus passes for 5 years, and access to new bus shelters located around the community. These benefits ensure residents have affordable and accessible ways to get around San Bernardino. Residents also have access to after school education, cooking or nutrition programs, financial coaching and literacy classes, peer support groups, food distribution programs, and community events.
Crestview Terrace demonstrates National CORE and HACSB’s commitment to creating strong and vibrant communities for their residents that address the challenges facing communities today. The diverse stakeholders engaged throughout this process—including HACSB, the San Bernardino City Unified School District, local hospital systems, nonprofits, small businesses, mission-oriented lenders, and community members—have already established a $1.5 million revolving fund for future housing. The development of Crestview Terrace set a strong precedent for the importance of reinvesting in San Bernardino and its success will serve as a springboard for future community-oriented development.
Hear from Ruby, a resident of Crestview Terrace, here.
Recognition from U.S. Representative Pete Aguilar (D-CA-31)
Congressman Pete Aguilar (D-CA-31) presented the 2022 Edson Award to Crestview Terrace at the AHTCC’s 2022 Fall Meeting and Charles L. Edson Tax Credit Excellence Awards on September 20, 2022 in Washington, DC. Ariana Bendle and Steve PonTell of National Community Renaissance accepted the award.
Statement from U.S. Senator Alex Padilla (D-CA)
“Congratulations to the California recipients of the Charles L. Edson Tax Credit Excellence Awards – Crestview Terrace in San Bernardino and Woo-Mehl LIHTC Homes in Weithpec – for their exemplary use of the Low Income Housing Tax Credit to provide more affordable housing to our communities. The Low Income Housing Tax Credit is a powerful and effective tool for addressing our state’s and nation’s affordable housing crisis and ensuring that everyone, including tribal communities, has access to housing.”