The Bonanza project is the preservation and rehabilitation of the Ponderosa, El Nor and 18th Avenue buildings in the Central District. It embodies one of our most core tenets: Everyone has the right to a quality, affordable home. In some cases, those quality homes are produced not through new construction, but through a reinvestment in our existing portfolio.
By a complex refinancing of the El Nor, Ponderosa, and 18th Avenue buildings, CHH has been able to obtain $140,000 per apartment to go toward improvements. This reinvestment allows for a proactive retrofit of an Unreinforced Masonry Building as well as overwhelming cosmetic refurbishments to make these homes feel brand new. In addition to substantial seismic upgrades, all three buildings will now have new windows, roofs, and cabinets. The kitchens will have new countertops and appliances, and the bathrooms will have new shower heads and toilets. Each unit will also feature new measures in energy efficiency: LED lights are being installed, as are programmable thermostats and low-flow facets. The Ponderosa will even have a new rooftop solar array.
Rehab work began in 2019, and two of the three buildings are nearly complete. The Ponderosa and 18th Avenue buildings’ renovations will be completed next month, and El Nor’s improvements will wrap up in August.
The Bonanza project reflects an ongoing movement toward sustainable preservation. Improving existing built resources is not just environmentally friendly; it has a direct impact on the quality of life for the residents of these affordable homes. CHH is very proud of the work completed and can’t wait for residents to enjoy their safer, improved homes.
