Construction is underway on Terracina at Tustin Legacy, a 338-unit affordable housing community in Tustin, California.
USA Properties Fund and Irvine Co. are partners on the development located in the heart of Tustin Legacy, a 1,600-acre, master-planned development that is transforming a former Marine Corps air station.
The affordable housing community will feature one- to three-bedroom apartments and a long list of amenities, including a clubhouse, a swimming pool, and a parking garage. Construction should be completed in the second quarter of 2029, with leasing and some move-ins starting in the second half of 2028.
“Terracina at Tustin Legacy is a hard-to-beat location with easy access to shopping, entertainment, recreation, and many employment opportunities, from retail positions to jobs at startups to some well-known companies,” said Geoff Brown, president of USA Properties Fund. “It checks so many boxes, and the partnership with Irvine Co. will bring more quality, affordable homes to a community where there is a severe housing shortage.”
The $175 million development is the first collaboration between the two companies.
Terracina at Tustin Legacy will be home to households earning 30% to 60% of the area median income for Orange County, or about $55,830 for a four-person household at the 30% limit to more than $111,600 at the 60% threshold.
Rents will range from $1,014 for a one-bedroom apartment for households at the 30% income limit to $2,856 for a three-bedroom unit at the 60% income threshold, significantly less than market-rate properties in central Orange County, according to officials, who note that income limits and rents will likely increase slightly before leasing starts in 2028.
“By offering quality homes near jobs, schools, and amenities, this development gives families the foundation to put down roots, build stability, and thrive,” said James Vossoughi, executive director of J.P. Morgan Community Development Banking, a key financing partner.
“Projects like this one are only possible through strong public and private collaboration—and we’re proud to continue our longstanding work with USA Properties Fund, a driving force in the creation of affordable housing across California, alongside Irvine Co. on this landmark community.”
USA Properties Fund has more than 95 apartment communities in California, Nevada, and Oregon, including about 30 in Southern California.