February 27, 2020
Grand Opening of Paseo La Paz Celebrates Completion of 137 Affordable Rental Apartments Near Public Transit in San Ysidro
The San Diego Housing Commission partnership development will remain affordable for 55 years
SAN DIEGO, CA — With a bustling transit station nearby and an array of services within walking distance, the residents of Paseo La Paz, a new San Diego Housing Commission (SDHC) partnership development with 137 affordable rental apartments, have convenient access to employment, education, and leisure opportunities.
“It’s perfect,” Martha, a Paseo La Paz resident, said in Spanish. “We have everything close by here. The area here, everything is good.”
Martha said her two-bedroom apartment provides her 36-year-old son, who has special needs, a room of his own for the first time. She also appreciates the proximity of services nearby, living close to shopping centers and the U.S.-Mexico International border.
“I continue to advocate for projects like this in which the doors to affordable housing are open to those who need it the most. By building more affordable housing like this project, we are investing in the future for everyone,” San Diego City Councilmember Vivian Moreno, whose Council District 8 includes San Ysidro, said at today’s grand opening ceremony. “This project is ideal for San Ysidro, keeping residents connected to transportation, community resources, activities and the most ideal and modern amenities. It will accommodate families of different sizes and residents of all ages. With this project, we’re strengthening our community and local families.”
Located at 160 West Seaward Avenue, Paseo La Paz will remain affordable for 55 years. It is also close to the Metropolitan Transit System’s Beyer Boulevard Trolley Station.
“Today is really about celebrating the 137 families who have new affordable apartments because of this project,” SDHC Vice Chair of the Board Ryan Clumpner said. “We’re also at the doorstep to the trolley station, obviously, and this is going to open a lot of opportunities for many residents to have close access to transportation. This means opportunities for employment, for education, for better quality of life as they can access a wider array of the larger region. It’s also walking distance to schools, parks, health services, the new library which opened last summer. So, it’s just a phenomenal project that does so many things for so many families.”
The one-, two- and three-bedroom rental apartments at Paseo La Paz will remain affordable for households earning up to 60 percent of San Diego’s Area Median Income, currently $64,200 annually for a four-person household. Monthly rents at the development range from approximately $900 for a one-bedroom unit to about $1,200 for a three-bedroom unit.
SDHC invested a loan of $9.25 million toward the development of Paseo La Paz, which had a total development cost of $43.2 million. SDHC’s development loan consisted of:
- $6.9 million from the City of San Diego Affordable Housing Fund, which SDHC administers; and
- $2.35 million in HOME Investment Partnerships Program (HOME) funds the U.S. Department of Housing and Urban Development (HUD) awards to the City of San Diego and SDHC also administers.
The San Diego City Council, in its role as the Housing Authority of the City of San Diego, approved the issuance of $28.6 million in tax-exempt Multifamily Housing Revenue Bonds to support the development.
The County of San Diego provided additional funding for Paseo La Paz through its Innovative Housing Trust Fund.
“I’d like to take a special moment to acknowledge our city partners – the San Diego Housing Commission, of course, the City Council, the City of San Diego because it’s that collaborative effort, the public-private partnership, and the effort between agencies, between jurisdictions, that will get us to our goal, which is affordable housing for individuals with special needs, working families, seniors, people on fixed incomes, and really we’re talking about vulnerable populations,” said David Estrella, the County’s Director of Housing and Community Development Services.
Chelsea Investment Corporation (Chelsea) developed Paseo La Paz.
Making good on a promise he made at the groundbreaking celebration for Paseo La Paz, Chelsea Founder and CEO James Schmid presented the bulk of his remarks in Spanish, saying, “here we have attempted to develop a project that offers the residents a place to live that is affordable for everyone, with resources for the entire community.”
Bob Cummings, Chelsea’s Government Relations Manager, added, “Paseo La Paz is a perfect example of what San Diego can do when it has the right resources. Local matching dollars were critical to making this affordable housing community a reality.”
Casa Familiar, a nonprofit organization dedicated to serving residents in South San Diego County that operates several community resources near the development – including a recreation center, a youth center, a senior center and social services center – provides adult education and social services that support the families that reside at Paseo La Paz.
“It’s about the people connections that make spaces like this so successful forever. It’s the right people coming together with a shared vision and doing what we do best,” said Lisa Cuestas, President of Casa Familiar.
Paseo La Paz includes a 2,000-square-foot community space; lounge and kitchen; computer lab; and outdoor recreation space with a children’s play area. Environmental sustainability features consist of solar power; water-wise plumbing and landscaping; and energy efficient appliances, windows, and interior climate control.
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Media Contact:
Scott Marshall
Vice President of Communications
San Diego Housing Commission
619-578-7138
