SAN DIEGO—Wakeland Housing and Development Corp. has closed on $52 million of construction financing from US Bank for Atmosphere, a $79.3-million affordable- and supportive-housing development in Downtown San Diego. The project, set to break ground March 31, is on a site that has been vacant for more than a decade.

The development is composed of studios to three-bedrooms for tenants who earn between 30% and 60% of the area median income. Rent will range from $394 to $1,191 a month, and construction is expected to be complete in February 2017. Suffolk Construction of Boston is the general contractor and Joseph Wong Design Associates is the architect.

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