Affordable housing developer Community Housing Works has opened a second project in Linda Vista with 59 apartments for people 55 and older with limited income.
The Puesta del Sol Apartments are located at 2601 Ulric Street, adjacent to the developer’s existing Amanecer Apartments, and together the buildings form an affordable, intergenerational community.
Sean Spear, president and CEO of Community Housing Works, said the two apartment buildings represent the first new affordable housing in the neighborhood and are designed to serve vulnerable populations of all ages.
“Our hope is that these two communities will really interact with each other as an intergenerational community within Linda Vista,” he said at the opening ceremony last week.
Units at Puesta del Sol apartments are reserved for households earning 30%-60% of the area median income. Additionally, six of the 59 vouchers will serve chronically homeless individuals supported by wrap-around services to ensure success.Â
The building offers only one-bedroom apartments, with public amenities that include a large outdoor courtyard, barbeques, computer room, rooftop terrace, and centralized laundry area.
The San Diego Housing Commission provided a below market rate loan. Additional funding was provided by Chase Bank and Red Stone Equity Partners. The California Tax Credit Allocation Committee provided 9% tax credits, and the city of San Diego waived $144,000 in permit fees.
Founded in 1988, Community Housing Works is a nonprofit organization that develops, rehabilitates, preserves, and operates affordable apartment communities in California and Texas.