Community HousingWorks has broken ground on a 96-unit affordable housing development that will serve some of the most vulnerable residents in Linda Vista, California.
Ulric Street Apartments will include 10 units reserved for chronically homeless veterans, in partnership with the Department of Housing and Urban Development (HUD) and the Veterans Affairs’ Supportive Housing (VASH) program, and 10 units for transition-age foster youth with local nonprofit service partner Home Start.
The development takes advantage of San Diego’s density bonus ordinance and will serve residents earning between 30% and 60% of the area median income. Construction is expected to be completed in spring 2022.
“Quality affordable housing is a critical need for individuals and families living on lower incomes, especially during the pandemic,” said Sean Spear, president and CEO of Community HousingWorks, a San Diego-based nonprofit. “We are honored to work with our partners to make this much needed housing a reality, and grateful to the Linda Vista neighborhood for welcoming us into this great community.”
Ulric Street Apartments will transform a previously underutilized site into a five-story development that will include a mix of studios and family apartments, featuring one to three bedrooms.
The development embraces sustainable technologies, incorporates quality design promoting natural ventilation, and offers resident-centered programs and services to help families achieve their goals and enable next generation success.
“Ulric Street Apartments will broaden access to opportunity for residents of San Diego,” said state Senate president pro tempore Toni G. Atkins (D-San Diego). “The state of California is a proud partner in Community HousingWorks’ effort to provide valuable housing solutions to residents at this critical time.”
The $52.8 million community is financed through collaboration with local city, county, state and federal funding sources, including: U.S. Bank as the construction and permanent financing lender; Red Stone Equity Partners; San Diego Housing Commission; county of San Diego; California Department of Housing and Community Development; and federal low-income housing tax credits.
“Ulric Street Apartments are not just a housing development. This community has the potential to truly change people’s lives,” said San Diego County supervisor Nathan Fletcher. “The County of San Diego is proud to support the development of Ulric Street Apartments with $7 million from the Innovative Housing Trust Fund to address our county's need for more healthy, safe, and affordable housing during the pandemic.”
