An affordable housing development company is expanding its space in Rancho Cucamonga. According to public documents, National CORE purchased an office building in late November for $18.25 million, or about $245 per square foot. The seller in the transaction was CO-OP Financial Services, an IT service management company, which currently occupies the building.
The property is located at 9692 Haven Ave. in Rancho Cucamonga and was acquired through a $11.9 million loan from Citizens Business Bank. The office building totals 74,356 square feet and stands three stories tall. Built in 2007, the building sits on a 0.56-acre site which also includes 99 parking spaces.
The property sits just off of Interstates 10 and 15, north of the Toyota Arena. Ontario Mills, a shopping center offering more than 1.3 million square feet of retail amenities. The property is also down the road from National CORE’s headquarters office at 9421 Haven Ave.
The Rancho Cucamonga-based company specializes in the development and management of affordable housing communities. According to the company’s website, National CORE has developed more than 120 properties nationwide.
The company has several developments planned for Southern California. In Pasadena, National CORE is proposing a fully affordable 100-unit senior housing community. The project would be located at 280 Ramona Street.
Additionally, National CORE recently broke ground on an 86-unit unit project called Miraflores. Construction on the project, which will be located at 1445 S. Anaheim Blvd. in Anaheim, began in September.