Chelsea Investment, Sudberry Properties Open $155M Affordable Housing Development at Civita in San Diego
March 31, 2021
SAN DIEGO — Chelsea Investment Corp. and Sudberry Properties have opened Siena affordable apartments for seniors and Stylus affordable apartments for families in Civita urban village, located in the Mission Valley area of San Diego. The adjacent properties are located on Russell Park Way between Civita Boulevard and Friars Road.
The $155 million project is one of the largest new affordable housing projects in San Diego County and brings the total of affordable apartments in Civita to 456. Civita is the redevelopment of a 79-year-old sand and gravel quarry into a sustainable, transit-oriented village.
Siena features 103 apartments for seniors in earning 30 percent to 60 percent of area median income (AMI). The one- and two-bedroom units range from 540 square feet to 783 square feet, with rents starting at $468 per month.
Stylus offers 203 two- and three-bedroom apartments for families earning 50 percent to 60 percent of AMI. The units range from 770 square feet to 1,040 square feet, with rents starting at $1,037 per month. Additionally, Stylus features 37,000 square feet of ground-floor retail space, which LA Fitness will occupy.
Each apartment community has its own clubroom with kitchen, on-site management, computer lab, laundry facilities on each floor, outdoor courtyard areas with picnic and barbecue areas, fitness equipment and outdoor entertaining areas.
The development team includes Emmerson Construction, KTGY Architecture + Planning, Gouvis Engineering, Rick Engineering Co. and Schmidt Design Group. Funding partners include Citi Community Capital and Raymond Jones. The Stylus project also received Affordable Housing Program loans administrated by FHLB-San Francisco and City National Bank.