Affirmed Housing Celebrates Grand Re-Opening of Sage Pointe Apartments San Diego Developer Reinvents Distressed Market Rate Property for Affordable Residents

SAN DIEGO, Jan. 19, 2011 /PRNewswire via COMTEX/ -- Today, Affirmed Housing Group and the City of San Marcos will celebrate the grand re-opening of Sage Pointe Apartments. The 10:00 am celebration will include special guest speaker, The Honorable Vice Mayor Hal Martin. Other speakers include: James Silverwood, President, Affirmed Housing Group; Teofla Rich, Senior Vice President, Torrey Pines Bank; and Bruce Solari, Executive Vice President, Solari Enterprises. Sage Pointe is the latest of several Affirmed Housing Group developments that are not only environmentally-friendly, but also serve low-income residents.

In 2008, Affirmed Housing Group partnered with the City of San Marcos to rehabilitate an ailing market rate property, Autumn Park. Now known as Sage Pointe, the renovated, 40-unit community consists of (31) 2 bedroom/1 bath units and (9) 1 bedroom/1 bath units and will offer much-needed housing for low-income individuals and families. Interior improvements included new bathrooms and kitchens, with new Energy Star appliances, countertops, and cabinets; new electrical and plumbing systems; new heating and air conditioning; new paint; new flooring; and new washers and dryers for the complex. Exterior enhancements included re-roofing, extensive balcony repairs, new paint, new fencing, re-paving, improved landscaping with a new water conservation system, new mailboxes, new barbeques, new benches, and a new tot lot. For more information, visit http://affirmedhousing.com/projects/completed/sage_pointe.html.

James Silverwood, President of Affirmed Housing Group, the developer, states, "We believe that affordable, environmentally-friendly housing should not be a luxury, but a standard. The rehabilitation of Sage Pointe is one of our efforts to make that ideal a reality." Sage Pointe's financing partners included Torrey Pines Bank and the City of San Marcos Redevelopment Association. The development team included developer Affirmed Housing Group, Studio E Architects, general contractor Critical Pointe Construction, civil engineer Masson & Associates, and landscape architect Darsono Design.

Headquartered in San Diego, Affirmed Housing Group is dedicated to improving and sustaining the viability of California through the development of affordable housing. The company aims at enhancing communities and our environment by building professionally-managed, high-quality, green, multifamily housing. Areas of expertise include site selection, engineering, architecture, construction, relocation, and marketing. Affirmed also has extensive knowledge in public finance, low-income housing tax credit acquisition, and tax-exempt bond financing. For more information, visit www.affirmedhousing.com.

Contact: Beth Binger BCI (619) 987-6658 beth.binger@BCIpr.com SOURCE Affirmed Housing Group www.prnewswire.com Copyright (C) 2011 PR Newswire. All rights reserved -0- KEYWORD: California INDUSTRY KEYWORD: FIN

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