Jamboree Housing Corporation Among First To Receive Wells Fargo Welcome Home Grant

Jamboree Housing Corporation Among First To Receive Wells Fargo Welcome Home Grant

Published: Tue, January 31, 2012

Dan Carlsson | 949-559-9382 | dcarlsson@cox.net
Carlsson Public Relations

Lorraine O’Keefe | 949-219-0770 | lorraine@thinkinbig.com
ThinkinBig Communications

Nonprofit Affordable Housing Developer One of Only Two Organizations in Orange County to Receive Statewide Funds

Irvine, CA (January 31, 2012) – Jamboree Housing Corporation, a leading developer of affordable housing in California, announced today that it received a $50,000 Welcome Home grant from Wells Fargo. The Welcome Home grant is awarded to nonprofit organizations assisting low-income families with affordable housing, foreclosure prevention counseling and first-time homebuyer counseling. The grant also will support Jamboree’s efforts to revitalize communities and provide free onsite programs to residents including, health, computer skills and financial workshops.

The grant was presented by Danny Chang, Wells Fargo Foothill Corridor Community Bank district manager, at a holiday party at Jamboree’s award-winning resident community – Montecito Vista Apartment Homes in Irvine.

Completed in 2005, Montecito Vista seamlessly integrates into the surrounding community of single-family, market rate homes and offers residents quality housing at rent prices that are hundreds of dollars below market rental rates.

“Wells Fargo is proud to support the ongoing work of nonprofit organizations like Jamboree that strengthen our communities and help them thrive. Montecito Vista is a testament to Jamboree’s unwavering commitment to building high-quality affordable housing that is good for the environment, the economy and our communities,” said Chang.

Wells Fargo awarded Jamboree the $50,000 grant to help the organization continue its commitment to high- quality affordable housing and resident services across California. In 2010 alone, Wells Fargo donated more than

$5.6 million to 543 local nonprofit organizations and schools in Orange County.

“Funds like the Wells Fargo Welcome Home grant are needed for our communities now more than ever,” said Laura Archuleta, Jamboree’s president. “Quality affordable housing helps to generate more jobs, create supportive housing for seniors and those with special needs, promote healthy living and build stronger communities. This is an agile formula that continues to serve Jamboree and its communities well.”

To date, nearly 16,500 individuals reside in one of Jamboree’s 6,600+ rental homes, in more than 65 communities throughout 10 counties in California. Jamboree’s development pipeline currently includes 71 units under new construction, another 14 units under renovation and an additional 515 units of new construction or renovation in predevelopment over the next five years.

In 2011, Jamboree completed the rehabilitation of a 104-unit apartment community in Garden Grove’s Buena Clinton neighborhood and 164 apartments for seniors at Emerald Cove Apartments in Huntington Beach; finished construction of Ceres Way, its sixth workforce housing community in the City of Fontana; and opened Doria Apartment Homes, its first development in partnership with the Irvine Community Land Trust (ICLT), which includes10 homes set aside for residents who receive services through the Mental Health Services Act (MHSA). In addition, Jamboree was selected for the OC Green Team as one of 25 leading Orange County, CA-based companies – and the only housing developer – that, in their own unique ways, are making the world a cleaner, greener place now and for future generations. By creating environments that foster health, education, involvement and self-sufficiency, Jamboree’s Resident Services Group transforms developments into neighborhoods with services and programs designed to meet the needs of each of the communities Jamboree serves.

For Jamboree and Wells Fargo, this grant is only the beginning. Wells Fargo team members in Orange County look forward to working and volunteering with Jamboree to support its efforts and residents across the region.

According to Chang, investing in communities is more than awarding grants… it’s the long-term investment of time and partnerships that wield the continued wellbeing of strong, healthy communities. Known for its innovative network of public/private partnerships, Archuleta agrees wholeheartedly. “Long-term partnerships are vital to the long-term success of our properties and, more importantly, our residents.”

About Wells Fargo:

Wells Fargo & Company (NYSE: WFC) is a nationwide, diversified, community-based financial services company with $1.3 trillion in assets. Founded in 1852 and headquartered in San Francisco, Wells Fargo provides banking, insurance, investments, mortgage, and consumer and commercial finance through more than 9,000 stores, 12,000 ATMs, the Internet (wellsfargo.com), and other distribution channels across North America and internationally. With more than 272,000 team members, Wells Fargo serves one in three households in America. Wells Fargo & Company was ranked No. 23 on Fortune’s 2011 rankings of America’s largest corporations. Wells Fargo’s vision is to satisfy all our customers’ financial needs and help them succeed financially.

About Jamboree:

Founded in 1990, Irvine, CA-headquartered Jamboree Housing Corporation is an award-winning, broad-based nonprofit housing development company that develops, acquires, renovates and manages permanently affordable rental and ownership housing throughout California for working families, seniors and people with special needs. HOMES, Inc. and Housing with HEART are 501(c)(3) organizations and comprise Jamboree’s Resident Services Group. A leading nonprofit developer, Jamboree is committed to sustaining excellence with high quality affordable housing that is good for the environment, the economy and local communities. It currently has about $250 million in affordable housing projects in its development pipeline and a $1 billion asset portfolio that includes the development of and/or ownership interest in more than 6,600 homes in more than 65 California communities. Currently, Housing with HEART programs and services that foster learning, health and community building are offered at 38 Jamboree communities with designated staff at each location. For more information, go to www.jamboreehousing.com.

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