A few years ago, I got excited about Anaheim going through a transformation that would bring shopping and nightlife to neglected areas outside of the Disneyland Resort. There was promise of a downtown area “similar to the Gaslamp District” next to Angel Stadium. However, it seems all of the plans for the infamous “Platinum Triangle” have been put on hold indefinitely until builders and city officials decide what exactly will be built.
Meanwhile, the downtown area near Anaheim Blvd and Broadway is something that has transformed into a thriving promenade with little fanfare. Mid-rise modern apartments have been built next to chic-styled restaurants and Anaheim’s Civic Center.
“The Domain” by Brookfield Residential is the 2nd mid-rise property to be built in the area after Harbor Street Lofts were constructed in 2010.
Unlike the recent “urban flops” that were constructed (i.e. – Stadium Lofts on Katella and Harbor Street Lofts) where drastic price reductions were needed, the Domain seems poised to be a hit as the Real Estate market has improved and the location actually has several establishments worth visiting several times a week such as Farmer’s Market on Center Street, Umami Burger, and Anaheim Brewery. HOA dues are pretty reasonable for a mid-rise at $243 per month.
Brookfield also seems to have learned from the shortcomings of nearby complexes in order to cater to groups beyond just “20 somethings.” Unlike the Stadium Lofts, The Domain features select residences with direct access garages.
Home designs are as small as 1 bedroom, 1 bath with 897 square feet and can be large as 3 bedrooms, 2 baths with 1,644 square feet with an attached 2-car garage.
Here’s more good news: There will be a significant number of “Plan B” residences (2 bedrooms, 2 baths, 1,103 sq ft) classified as “affordable” units where downpayment assistance will be available. The program is also available toward other designs as long as funding remains. There has been $6M set aside for the program.
Similar to nearby Colony Park, buyers with lower household incomes are eligible to use Anaheim’s Housing Program to assist them in obtaining homeownership. The program offers up to $125,000 in downpayment assistance.
Here are some of the requirements of the program:
– Income limits are based on household size. For example, a household of 2 cannot earn more than $83,700 (using the moderate income table).
– Buyers cannot own more than $92,000 in cash assets.
– All persons in household must provide proof of permanent US residency.
– Applicants must complete HUD’s Certified Homebuyer Education Program.
Call me at 714-501-2732 for more information or use the form in the “Contact Edwin” link above.