Author Topic: Low Income Housing Coming to CVE and PP  (Read 563 times)

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Offline WTTCHMN

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Offline aquabliss

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Re: Low Income Housing Coming to CVE and PP
« Reply #1 on: September 23, 2019, 12:10:02 AM »
PP?  Sand Canyon and Nightmist is at least a couple miles away from PP.

Offline WTTCHMN

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Re: Low Income Housing Coming to CVE and PP
« Reply #2 on: September 23, 2019, 06:55:37 AM »
PP?  Sand Canyon and Nightmist is at least a couple miles away from PP.

The Irvine land trust’s next project will be 68 owner-occupied townhomes on Native Spring alongside the 133 toll road. Asturias said the trust has been under contract to buy the land from the city for four and a half years, but held off on closing escrow until the new legislation is in place, saving an estimated $600,000 in property taxes.

Offline momopi

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Re: Low Income Housing Coming to CVE and PP
« Reply #3 on: September 23, 2019, 09:02:54 AM »
"Salerno broke ground Sept. 19 at Nightmist and Sand Canyon Avenue. When it opens in fall 2020, the $37.7 million complex with a pool, exercise room and tot lot will include 35 apartments for veterans, people with developmental disabilities and families at risk of homelessness; a majority of the remaining units will be reserved for families earning less than half the area median income.

The land trust is providing the land and a $6.8 million loan to the developer. Other loans and funding come from tax credits, the county and Citi Bank, according to a press release. Rents will run from about $550 to $695 a month."



I have a feeling the number of applicants will far exceed the supply, by factor of 100x.

 

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