Worth more than $18 million, the development will be comprised of studios, one-, two-, and three-bedroom units housed in a six-story building when it opens. Of the 172 apartments planned for the project, 22 units will be reserved for tenants earning 70% of the median income and 18 will be rented to residents making 100% of the median income.
The project, which is currently rising on the south side of Island Avenue between 13th and 14th streets in Downtown's East Village, is scheduled for build-out in May of this year. Construction is presently 90% complete on the project, with exterior painting now underway.
The affordable housing issue is one of pressing importance for the Southland, especially in more densely packed cities like San Diego. In 2002, the city of San Diego declared an affordable housing emergency and implemented various measures to address the situation. Some of these actions include the inclusionary housing ordinance and the $55-million Notice of Funding Availability program.
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