FOR IMMEDIATE RELEASE
Tuesday, November 17, 2020
SAN DIEGO – Today, the City Council unanimously approved issuing tax-exempt Multifamily Housing Revenue Bonds to facilitate the new construction of Ventana al Sur Apartments in San Ysidro.
The future Ventana at Sur Apartments will include 100 units for low and very low-income tenants, including 75 units for low-income seniors and 25 units for seniors experiencing chronic homelessness with a serious mental illness who meet certain income criteria.
“I am excited to see this affordable housing project move forward in the San Ysidro community,” said Councilmember Vivian Moreno (District 8). “I have always been a strong advocate of building more housing and adding these affordable units to our stock of housing is critical.”
This development is supported by HOUSING FIRST – SAN DIEGO, San Diego Housing Commission’s homelessness action plan and the nonprofit Metropolitan Area Advisory Committee on Anti-Poverty (MAAC) is a co-developer. Total development cost for this project is estimated at $49,757,579 and estimated construction start is May 2021 with completion estimated Summer 2022.
More information on the Ventura al Sur Apartments can be found here.