Affordable housing developer Chelsea Investment Corp. announced Tuesday that construction will start soon on 195 apartments for low-income families and seniors in the Mid-City area of San Diego.
The project is located at 4340 44th Street near the corner of Fairmont Avenue and El Cajon Boulevard and across the street from the Copley-Price Famly YMCA.
The $81 million development will consist of two five-story buildings above underground parking. One building will provide 78 two- and three-bedroom apartments for families, while the adjoining building will offer 117 one-bedroom apartments for seniors
Chelsea is leading the development on behalf of Price Philanthropies Foundation, which donated the land and contributed key funding, along with the San Diego Housing Commission. The nonprofit Serving Seniors is also a partner on the project and will provide comprehensive on-site services for both the senior and family apartments.
“When we acquired the land at Fairmount and El Cajon in 2009, we knew that its strategic location on El Cajon Boulevard could, with careful planning and design, be the place of a transformational community-oriented development,“ said Robert E. Price, president of Price Philanthropies Foundation, which seeks to improve life opportunities for youth and families in San Diego.
“After facilitating the development of the Copley Price Family YMCA in 2014, we wanted to ensure access to stable, quality affordable housing in Mid-City,” he added. “We are excited to see 195 units of family and senior housing available in the community at rates that ensure accessibility.“
The 1.6-acre project will include an inter-generational garden, dedicated dog area, and a town square outdoor plaza. Architectural design is led by Rob Wellington Quigley Architects.
Rents for the family apartments are expected to range from approximately $1,200 to $1,600, while rents in the senior building will range from approximately $750 to $1,200. All units include central heating and air, fully-equipped kitchens and window coverings.
The project is scheduled to open in mid 2022. Approximately six months prior to the completion, prospective residents can register their interest online.
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