Ventana al Sur
Overview
| Deal Type |
Construction |
|---|---|
| Size |
$49.3 Million New Construction of Seniors Housing |
Summary
Ventana al Sur is a new construction, affordable seniors housing community scheduled for development in the San Ysidro Historic Village District, California. The property will include 100 one- and two-bedroom apartments for seniors 62 and over with 20-50% of area median income, with 25 units reserved for seniors experiencing chronic homelessness, supported by vouchers from San Diego Housing Commission (SDHC). Unhoused seniors will be referred through the County’s Coordinated Entry System, with supportive services provided from on-site offices by Father Joe’s, one of the largest such providers in San Diego. Services include case management, health and wellness, access to financial and other resources, household stability, aging in place, and eviction prevention. Amenities include easy access to shopping, community center, community clinic and transit.
The project receives $49.3 million of construction financing from KeyBank, $4.4 million from SDHC, $5 million from San Diego Economic Development, $20 million from California State Multifamily Housing Program and $30.4 million from California Housing Accelerator funds as part of the state’s efforts to address areas in greatest need of affordable housing.
