An affordable housing community for older adults has opened as part of a mixed-use development in Carlsbad, California.
The 47-unit Vintage at Marja Acres is in the new Marja Acres neighborhood that includes townhomes, a community park, and commercial space.
“Vintage at Marja Acres is a one-of-a-kind community, offering affordable housing close to everything that Carlsbad has to offer,” said developer Geoff Brown, president of USA Properties Fund. “The community meets a wide range of needs for residents, whether they are working full time or retired and living on a fixed income.”
Co-developed by The Pinyon Group, the property serves residents 55 and older who earn 30% to 60% of the area median income. Rents range from $814 to $1,396 per month, depending on the income of residents.
The one-bedroom apartments feature energy-efficient appliances and light fixtures, and low-flow faucets, showers, and toilets. The three-story development also includes a community room, a wellness/health center, and on-site laundry facilities.
Vintage at Marja Acres will offer numerous social services for residents, from activities like arts and crafts to financial education programs, according to developers.
The $21 million project was supported by the city of Carlsbad, Riverside Charitable Corp., and WNC. JPMorgan Chase is the construction and permanent lender.
“Marja Acres has all the elements in place to open the doors of opportunity to its residents: a prime location, plentiful social services, and an exemplary developer partner behind the wheel,” said Jessica Captanis, vice president of originations for the Western region, at WNC, a low-income housing tax credit syndicator and investment firm.
IHP Capital Partners and KB Home are also partners on the larger Marja Acres development, an infill community that is named after a former longtime nursery on the property.
In Northern California, USA Properties Fund has started construction on The Crawford, a 265-unit affordable housing community in the firm’s hometown of Roseville.
The community will include one- to three-bedroom apartments, with some units available as early as fall 2026. The development is scheduled to be completed in spring 2027.
The city of Roseville Housing Authority provided eight project-based vouchers, basically securing apartments for very low-income residents. Bank of America is the tax credit investor and construction lender, while Citi Community Capital is the permanent lender on the $112 million project.
