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Roseville company buys San Bernadino Senior Apartment Community




SAN BERNARDINO - USA Properties Fund Inc. has acquired Victoria Woods, a 176-unit affordable senior housing community in San Bernardino that will undergo an extensive renovation during the next few months.

USA Properties Fund - which has more than 75 communities in California and Nevada, including four in the Inland Empire - will spend about $4.5 million to renovate Victoria Woods.

The community - soon to be renamed Vintage at Kendall - is located at 1095 Kendall Drive, near a grocery store, drug store, other retail shops, public transportation, two city parks and about a mile southeast from California State University, San Bernardino.

The apartments are available to low-income seniors at least 55 years old who earn 50 percent to 60 percent of the area median income for San Bernardino County.

"We're always looking for opportunities to expand, and Victoria Woods fit exactly what we wanted," said USA Properties Fund President Geoff Brown. "We're going to invest in the community and make it an even better place for residents to call home."

The community features 104 one-bedroom, one-bath apartments and 72 two-bedroom, one-bath units. The one-bedroom apartments are 572 square feet, while the two-bedroom units offer 723 square feet.

The community has 13 two-story apartment buildings and a recreation building, which features a clubhouse with a kitchen, TV room, billiards room, activity center, laundry, restrooms, and a leasing and manager's office. Other on-site amenities include a swimming pool, spa, barbecues, small gardening area, horseshoe pit and mini storage.

Victoria Woods has on-site parking for 304 cars -- 90 garages, 88 carports and 126 open parking spaces.

Victoria Woods, which was completed in 1994, will undergo an extensive renovation, including new energy-efficient HVAC units and water heaters, Energy Star appliances, ceiling fans, entry and interior door hardware, doorbells, garbage disposals, and upgrades to electric fixtures and bathroom plumbing fixtures. Deck repairs, roof maintenance, exterior painting, repairs to the carports and clubhouse, updated security system, new lighting and signage also are part of the renovation. About $25,500 per unit will be spent on renovations.

With the purchase, Victoria Woods becomes a LifeSTEPS community. The Fair Oaks-based nonprofit provides educational and support services to empower residents with the skills, resources and support they may need to maintain stable housing and break the cycle of poverty.

LifeSTEPS services for seniors include confidential case management and mediation, computer, exercise, music, arts and crafts classes. Social events include local field trips, travel presentations, writing groups and even volunteer programs. The nonprofit also offers health-related activities, such as on-site flu shots and information sessions on Medicare and Medicaid.

"We build communities not just complexes," Brown said. "We establish communities where neighbors know each other and residents can get the help and services they need."

ABOUT USA PROPERTIES FUND INC.
USA Properties Fund Inc. (USA), a California corporation, is a privately owned real estate development organization specializing in the creation of outstanding senior and family communities. Founded in 1981 and headquartered in Roseville, USA Properties Fund provides a full range of capabilities for community development, including financing, development, construction services, rehabilitation and property management. Our values, leadership and team structure reflect our success with the development/construction and acquisition/rehabilitation of more than 11,000 units of family and senior apartments in more than 75 communities throughout California and Nevada. For more information, please visit www.usapropfund.com.





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