November 14, 2022

Grand Opening Celebrates More Than 190 New Affordable Apartments in Intergenerational Mid-City Developments

The San Diego Housing Commission collaborative developments will remain affordable for 55 years for seniors and families with low income

SAN DIEGO, CA — Families and seniors with low income have more affordable housing opportunities in the Mid-City area with the completion of two developments in collaboration with the San Diego Housing Commission (SDHC) that provide more than 190 affordable rental housing units and celebrated their grand opening today.

“Everyone deserves a safe, comfortable place to live,” California Senate President pro Tempore Toni Atkins said. “And today, we celebrate the opportunity for families and seniors to call this wonderful intergenerational community their new home.”

Developed by Chelsea Investment Corporation in collaboration with Price Philanthropies Foundation, SDHC, Serving Seniors and additional organizations, Mid-City Family Apartments and Harris Family Senior Residence were constructed as adjoining buildings near the intersection of Fairmount Avenue and El Cajon Boulevard.

“I have to say that the fact of the matter is while every neighborhood is upset about homelessness and housing affordability, few neighborhoods embrace projects like this one, and we need every neighborhood to do its part,” San Diego Mayor Todd Gloria said. “So to the people of Kensington and Talmadge, to City Heights, to the Boulevard Business Improvement District, to all of the community partners who are here, thank you for leaning in. Thank you for having an open door. Thank you for being willing to say yes to more housing because we recognize that if you want to end homelessness, you have to build more homes.”

The developments consist of 115 one-bedroom apartments for seniors and 77 two- and three-bedroom apartments for families that will remain affordable for 55 years for households earning up to 60 percent of the San Diego Area Median Income (AMI), currently $62,460 per year for a two-person household and $78,060 per year for a family of four. There are also three managers’ units.

“One of the reasons why I’m so glad to be here today is I think it represents what we should aim to be as a community,” San Diego City Council President Sean Elo-Rivera said. “And that is a place that provides folks a place to live in dignity no matter what their age is or what their income is.”

Financing for the development included an SDHC loan and Multifamily Housing Revenue Notes authorized by SDHC, with approval from the City Council in its role as the Housing Authority of the City of San Diego.

“An important part of our mission at the San Diego Housing Commission is to foster social and economic stability for vulnerable populations in the City of San Diego through quality, affordable housing. These two developments are great examples of that,” SDHC Senior Vice President of Housing Finance and Property Management Colin Miller said.

SDHC awarded a loan of $6.75 million for the construction of Harris Family Senior Residence. The loan consisted of federal and City of San Diego funds that SDHC administers:

• $1.75 million from the federal HOME Investment Partnerships Program, which the U.S. Department of Housing and Urban Development (HUD) awards to the City of San Diego; and
• $5 million from the City of San Diego’s Affordable Housing Fund.

SDHC also authorized the issuance of up to $46 million in tax-exempt Multifamily Housing Revenue Notes and $5.5 million in taxable notes toward the developments. The Housing Authority of the City of San Diego, approved the notes:

• Mid-City Family Apartments
  • $24 million tax-exempt notes
  • $3 million taxable notes
• Harris Family Senior Residence
  • $22 million tax-exempt notes
  • $2.5 million taxable notes

Private sources of funds, such as revenue from the developments, are used to repay the notes. SDHC, the City of San Diego and the Housing Authority are not financially liable for the notes.

“It’s amazing what can be done when you work together,” said Executive Deputy Director of the California Tax Credit Allocation Committee Anthony Zeto, representing California State Treasurer Fiona Ma’s office. “This project specifically was allocated just under $3 million in annual federal credits, which were used to finance the project or partially used to finance the project. And it’s just amazing. It always amazes me to see the projects after they’re completed.”

Funding for the development included a $4.5 million loan from the County of San Diego through its Innovative Housing Trust Fund.

“It’s with great pride we join Chelsea Investment Corporation and Price Philanthropies here today for this grand opening and reflect on the impact that these units will have on our community now more than ever,” said County of San Diego Housing and Community Development Services Program Coordinator Kelly Salmons. “It’s crucial that the county takes significant steps to preserve and create affordable housing opportunities throughout the region. And it’s partnerships like the ones we have here at this development that make it happen.”

All residents, regardless of age, have access to on-site services from Serving Seniors, a San Diego-based nonprofit organization that provides meals and coordinated services to thousands of older adults each year.

“What really makes it special is that this was purposely designed as an intergenerational neighborhood where kids and working adults and seniors can interact and actually form a bond of friendship and connection. It really is a project done right and really should become a kind of an example of what we can do going forward,” Serving Seniors President and CEO Paul Downey said.

Monthly rents for the two- and three- bedroom family apartments range from approximately $1,200 to $1,600, while rents for the one-bedroom senior apartments range from approximately $750 to $1,200 per month.

All units include central heating and air, fully equipped kitchens and window coverings.

The 1.6-acre development was built as a mixed-use campus and includes a community garden, a dog area and an outdoor plaza. It is located to the east of Interstate 15, across the street from the Copley-Price Family YMCA. Also in the area of the development are schools, shopping options and San Diego Metropolitan Transit System bus lines.

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Media Contact:
Scott Marshall
Vice President of Communications
San Diego Housing Commission
619-578-7138
scottm@sdhc.org