Boston Capital announced it has invested in City View Apartments, a to-be-built 31-unit multifamily development for families in San Diego.
The project will feature two one-bedroom, five two-bedroom, and 24 three-bedroom units in two four-story buildings. The housing will be built on a podium above structured parking and connected by a walkway at each level.
City View will provide affordable housing for residents earning no more than 50 percent of the area median income.
"This investment represents Boston Capital's 14th partnership with our long-term developer partner Affirmed Housing Group," said Jack Manning, president and CEO of Boston Capital, in a statement.
The firm invested approximately $3.4 million in low-income housing tax credit equity in City View, which will be located in San Diego’s North Park neighborhood.
The development will include a computer room and after-school support services, including homework assistance. Plans also call for solar panels and other green building features that are expected to earn the project a Leadership in Energy and Environmental Design silver certification.