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San Diego
Sunday, May 19, 2024

$33M Affordable Housing Project Coming to Carlsbad

Affirmed Housing is planning to build a $33 million affordable housing project in Carlsbad – one of several recent initiatives to address the region’s homeless issue.

$37.7 Million

San Diego also was awarded $37.7 million in state Project Homekey money to buy two hotels as affordable housing projects – the Residence Inn Hotel Circle and the Residence Inn Kearny Mesa.

The plan requires approval by the city council, which is scheduled to review it in October.

The two hotels would provide 332 apartments, 72 of which would be two-bedroom apartments.

Minimal Work

City officials said the hotels require minimal work. The Hotel Circle hotel was built in 2003. The Kearny Mesa hotel was built in 1990 and renovated in 2013.

Affirmed Housing’s Windsor Pointe project is a little different from the typical affordable housing project because in a sense its two projects financed as one.

With construction expected to begin in January 2021, the project will have 50 apartments in two separate buildings on three lots – two that are adjacent to each other and a third that is not.

Affirmed Housing bought the property from three different owners in 2016.

One building will be at 3606, 3618 and 3630 Harding St. The other will be at 965 and 967 Oak Ave.

The buildings will be about a half-mile apart, said Jimmy Silverwood, executive vice president of Affirmed Housing.

“Ideally, we would have had it next to each other, but it still works,” Silverwood said. “It’s considered a scattered site development for our financing.”

Finding property for affordable housing west of Interstate 5 is a challenge, Silverwood said.

Separate Buildings

To make the project economical, Affirmed Housing has to include a certain number of apartments and the only way to do that was to put up separate buildings on the two sites that Affirmed had acquired, Silverwood said.

“We could get to a total unit count that made sense for us and still be able to compete for the properties without getting priced out of the market,” Silverwood said. “It’s not different from being on one site and having two separate buildings.”

Neither site by itself was big enough.

Although nearly identical in appearance, the Harding Street building will be the bigger of the two at about 36,000 square feet and the Oak Street building will be about 30,000 square feet, Silverwood said.

The three-story buildings are designed in a Spanish Revival style with red-tiled roofs, arched windows and doorways.

“For where this is located, it’s a style that we felt was fitting,” Silverwood said. “There’s a lot of duplexes and apartments in the area. A lot of them have more of a traditional style. That’s why we wanted to make sure we blended into the neighborhood.”

Amenities include an indoor and outdoor community space, a parking garage on the ground level, laundry rooms, and elevators in both buildings. 


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