YORBA LINDA \u2014 The Olson Company has received a $35 million construction loan to build a mixed-unit housing project on a church-owned site, highlighting the latest example of a developer partnering with a faith-based landowner to address California\u2019s housing shortage.<\/p>\n
The Seal Beach-based developer recently purchased a 1.9-acre parking lot from Messiah Lutheran Church at 4861 Liverpool St. for $8.21 million, clearing the way to build a 40-townhome project.<\/p>\n
Solano Walk will include 40 three-story townhomes, with 32 market-rate residences and 8 affordable homes for moderate-income households, company officials said.<\/p>\n
The company has begun grading the site, with model homes expected to open in April 2027.<\/p>\n
\u201cThis community will add to Yorba Linda\u2019s commitment to quality residential development while providing much-needed affordable housing required of the city by the state,\u201d said John Reekstin, executive vice president of community development at the Olson Company, in an interview with the Business Journal. \u201cIt will also enable the church to further its mission to serve the local community.\u201d<\/p>\n
CBRE Vice President Michelle Jefcoat and First Vice President Dan Blackwell represented both the buyer and the seller in the transaction.<\/p>\n
\u2018Yes in God\u2019s Backyard\u2019<\/p>\n
The deal is part of a growing trend where churches and other religious groups work with developers to build housing on underused church land.<\/p>\n
Passed in 2023, the Affordable Housing on Faith and Higher Education Lands Act has made it easier for religious institutions and nonprofit colleges to build housing on their own property as part of a larger effort to help cities meet state housing requirements. The state law is referred to as \u201cYes in God\u2019s Backyard,\u201d or the YIGBY movement.<\/p>\n
Voters in local cities like Yorba Linda have also passed their own version, allowing higher-density housing on certain church properties.<\/p>\n
In 2024, Santa Ana United Methodist Church partnered with Rancho Cucamonga-based National CORE to build a 93-unit affordable housing project called Legacy Square.<\/p>\n
Earlier this year, Neighborhood Congregational Church in Laguna Beach began working with Irvine\u2019s Related Companies to develop a 29-unit affordable housing project with a manager\u2019s unit on its property.<\/p>\n
Jefcoat told the Business Journal that many congregations built between the 1950s and 1980s are facing fewer congregants, aging buildings, maintenance expenses and fewer young families to help cover costs.<\/p>\n
\u201cMany churches are experiencing declining membership, which translates into lower weekly donations, fewer volunteers and large sanctuaries and parking lots that are underutilized,\u201d Jefcoat told the Business Journal.<\/p>\n
Reekstin added that some churches have downsized and \u201cno longer need their existing property or a portion of it and are therefore in a position to sell and raise funds for their use in serving the community.\u201d<\/p>\n
Solana Walk<\/p>\n
For the Olson Company, Reekstin said it has built eight communities on former church properties over the past six years.<\/p>\n
It\u2019s something that they\u2019ve specialized in\u2014converting underused sites, such as surplus public land, old commercial properties and church campuses into thriving residential neighborhoods.<\/p>\n
Reekstin said that Solana Walk will likely target local young couples, move-up buyers and empty nesters.<\/p>\n
The affordable units, he said, are meant to help first-time buyers stay in the community where they grew up.<\/p>\n
\u201cThe moderate-income homes will give first-time homebuyers a chance to stay in the area instead of having to move away or leave the state,\u201d he said.<\/p>\n","protected":false},"excerpt":{"rendered":"YORBA LINDA \u2014 The Olson Company has received a $35 million construction loan to build a mixed-unit housing…\n","protected":false},"author":2,"featured_media":361633,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[36],"tags":[163,165,164],"class_list":["post-361632","post","type-post","status-publish","format-standard","has-post-thumbnail","category-anaheim","tag-anaheim","tag-anaheim-headlines","tag-anaheim-news"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/posts\/361632","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/comments?post=361632"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/posts\/361632\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/media\/361633"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/media?parent=361632"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/categories?post=361632"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/tags?post=361632"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}