Does Santa Ana need more housing? Definitely! Real Estate Developer Ryan Ogulnick has a solution. He wants to build a 496-unit multi family housing development, called The Addington, just north of the 5 Freeway, where there is currently an old office building, at 2525 Main St.
The project received a positive EIR (Environmental Impact Report) and has been recommended by the City of Santa Ana’s Planning Department.
The benefits to our city’s residents’ include:
- The developer will pay over $5 million dollars in development fees to the City of Santa Ana
- The developer will also contribute over $6.5 million dollars to the City of Santa Ana to be used to build affordable housing at a location of the City’s choice
- The development will generate over $3.5 million a year in property taxes – the City of Santa Ana will get almost $700 thousand a year of that tax revenue
- The new development will increase the City of Santa Ana’s Property Tax revenue for this property by over 1600% over the next 25 years
- The 25 year total tax revenue to Santa Ana’s General Fund will be over $30 million dollars!
Santa Ana has a severe housing crisis. Unfortunately there are a few residents who are opposed to this great new development. The Santa Ana Planning Commission will be considering the EIR for this development on Monday, Nov. 26, at 5:30 p.m., at the Santa Ana City Council Chambers, located at 22 Civic Center Plaza. Please consider attending this meeting to speak out in support of this amazing new development.
It should be noted that Ogulnick also spent his own money recently to open a new homeless shelter in Santa Ana with 200 beds for the most unfortunate among us. Clearly he has our best interests at heart!