Seal Beach, CA. – January 26, 2012 – Olson Homes, Southern California’s leading developer of in-town living, announces recently released affordable flats in its new, stylish Citrus Walk community, located in Covina’s quaint downtown area. Demand is anticipated to be high for these flats, one of few affordable options currently available in Southern California.
Olson is offering 8 of its 12 single level flats as moderate-income affordable housing units. With prices starting at $240,400, these flats are $70,000 and $80,000 below market rate for comparable homes of this size and spec level, and monthly payments will be comparable to rent in the area.
“As redevelopment agencies go through re-structuring and have limited access to funds, affordable housing will become increasingly rare,” said Scott Laurie, President of Olson Homes. “Olson Homes is proud to build communities that fill cities’ needs and help make dreams come true. These flats are an incredible opportunity for moderate income families that are renting now, looking for their next step.”
Positioned over the new Olson retail storefronts in Covina’s revitalized downtown, the 8 affordable flats offer up to 1,311 square feet, 2-3 bedrooms and offer single level living above a 2-car garage. The flats, built to exceed LEED green living standards, feature energy efficient amenities including Energy Star appliances; water efficient and lead-free faucets; highly water efficient toilets; auto shut-off motion sensors in all baths, space saving tankless water heaters, and built-in recycle bins, among many other features.
The Olson Company’s numerous successful urban living developments across Southern California over the last 22 years reflect its commitment to today’s homebuyer. The Olson Company has garnered prestigious Eliant Awards for homeowner satisfaction, including a recent overall win for Mosaic Walk, which was in first place from almost 900 nationwide home communities. The Olson Company believes in “livability,” and implements a thoughtful and detail-oriented approach from concept through execution. As part of their unique approach to creating these communities, The Olson Company understands all that goes into buying a new home and provides ongoing tailored services to support the needs of its homeowners, including financial education and the exclusive Homeowner Champion Program.
For more information on the City of Covina’s affordable housing program, and how to apply and join the interest list, please visit CitrusWalk.com. To qualify, families need to have incomes in the moderate-income range, as determined by the California Department of Housing and Community Development (HCD).
About The Olson Company
Established in 1988, The Olson Company and the Olson Homes brand are nationally recognized for creating unique in-town neighborhoods in urban communities throughout California. Headquartered in Seal Beach, California, The Olson Company has successfully partnered with governmental agencies and private landowners to create innovative housing solutions designed to fulfill the lifestyle needs of today’s buyer.