April 16, 2026
Historic City Heights Furniture Store Site Converted to 72 Affordable Rental Apartments for Families with Low Income
San Diego Housing Commission awarded 33 federal rental assistance vouchers to help families with lower income pay for their housing
SAN DIEGO, CA — The historic site of a former furniture store on El Cajon Boulevard in San Diego’s City Heights neighborhood has new life as The Teralta, a new housing development with more than 70 affordable rental apartments for San Diegans with low income.
“Days like today—where we’re providing these 70-plus new homes for San Diegans who work hard, play by the rules, and do everything right—we’re sending a strong message to the people of this city, to the little ones who are walking around and enjoying this space, that there is a future for you here in this city,” Mayor Todd Gloria said at the grand opening for The Teralta.
Once the home of the Superior Furniture Co., The Teralta consists of 72 rental apartments that will remain affordable for the next 55 years for families earning no more than 60 percent of San Diego’s Area Median income (AMI), up to $99,240 for a four-person household. Sixty percent of the units are three- and four-bedroom apartments that may house larger families and intergenerational households.
“The three- and four-bedroom homes that this project has, that doesn’t just mean more people get to live under one roof. It means that families get to stay together. And for the families in this community, that means a lot. It’s an important part of their culture. It’s essential in order to be able to afford to live here, and there’s a compounding effect in terms of affordability,” said Councilmember Sean Elo-Rivera, who represents Council District 9, which includes The Teralta. “Not only will the home that they are in be more affordable, but this means grandparents can take care of babies, and that’s going to save money on daycare. This is exactly the sort of housing that we want to build.”
The San Diego Housing Commission (SDHC) awarded 33 federal rental housing vouchers to the development, built by Wakeland Housing and Development Corporation in collaboration with Price Philanthropies Foundation, to help residents with the lowest incomes pay for their housing.
“This development represents stability and a brighter future for dozens of families who otherwise would struggle financially in what is a very high-cost rental market. With rents that they can afford, these families will have a greater opportunity to devote more of their time and their limited resources to work, school, health, and to spending time with each other and community,” SDHC President and CEO Lisa Jones said. “They’ll have a better opportunity to thrive. And that supports our purpose that the commission — to provide stable quality housing solutions so the community can be thriving, vibrant, and diverse.”
Fifteen of the housing vouchers SDHC awarded will assist residents earning up to 30 percent of the San Diego AMI, or $49,600 annually for a family of four. The remaining 18 vouchers are for families earning up to 40 percent of AMI, or $66,150 per year for a four-person household.
These vouchers are tied directly to this development. When a household moves on, the voucher helps another household with low income pay rent at The Teralta.
Though it has a new purpose, the historic Art Deco building’s façade will remain recognizable, since it has been incorporated into the design of the building, which had an estimated construction cost of approximately $71 million.
The new community’s rental units include 45 units with three or four bedrooms, fulfilling a need for affordable rental apartments for larger families. The affordable rents at The Teralta will range from $844 to $2,698 depending on the number of bedrooms in the unit and the income of the household. The development also includes one manager’s unit.
“How beautiful is this property? I’m blown away by it.” Wakeland Housing President and CEO Rebecca Louie said. “But as stunning as it is visually, what matters most is really what it represents, which is that we have brought more stable, affordable homes for families right here to the heart of City Heights, a place that we know just desperately needs them. This project reflects years of partnership, persistence, and shared commitment.”
Price Philanthropies donated the land for the development for $10 and provided a $14.25 million loan.
“I remember this area when it was really the heart of San Diego, driving up and down El Cajon Boulevard, my younger brother racing his jalopy up and down El Cajon Boulevard. And this building really reflects what that time was like, this architecture, everything about it,” Price Philanthropies President and CEO Robert Price said. “And we made a commitment in this building because most affordable housing is not prioritizing families. And we made a commitment here to have three- and four-bedroom housing. And that’s what I think is so special about this in addition to the beautiful design.”
Amenities include a central community room with a kitchen and computer lab, a courtyard with playground and barbecue areas and a third-floor roof deck for resident gatherings and special events.
All residents will have access to on-site personal and professional development services provided by Wakeland Housing’s Resident Services program.
In addition to maintaining the building’s façade and complementing the new construction to blend with the original style, the Teralta will include two commercial storefront spaces that will include local, community-serving businesses.
Connect with SDHC on social media:
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Media Contact:
Scott Marshall,
Vice President of Communications
San Diego Housing Commission
619-578-7138
scottm@sdhc.org
