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City Heights Housing Project Receives $18.8M Tax Credit

City Heights Housing Project Receives $18.8M Tax Credit

Metro Villas, a 120-unit affordable housing development in City Heights, received $18.8 million in tax credits from the California Tax Credit Allocation Committee.

The City Heights Community Development Corp., San Diego Interfaith Housing Corp. and San Diego Revitalization Corp., the development arm of Price Charities, are developing the project.

Metro Villas is the $25.5 million housing component in Metro Center, a $42 million mixed-use development. The housing portion will have nine three- and four-story apartment buildings.

A 489-space parking structure will serve all of Metro Center.

The project will house the Metro Career Center, an 81,500-square-foot office building, for the San Diego Workforce Partnership and about a dozen other public and private agencies. The Metro Center site is near Interstate 15 and University Avenue.

Clearing of the site has begun and construction will start early in 2003, with completion expected later in the year.

The city of San Diego and its Redevelopment Agency, the San Diego Housing Commission and the Centre City Development Corp. also backed Metro Villas.

The California Tax Credit Allocation Committee administers two low-income tax credit programs with the purpose of encouraging private investment in rental housing units for low- and very-low-income families and individuals.

Metro Villas was selected to receive the tax credits based on a number of criteria, including the total number of units set aside for low-income households with an income of less than 50 percent of the area median income.

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