A new affordable housing community for low-income families and veterans has opened in San Marcos, Calif.
Affirmed Housing’s Eastgate is a mixed-use community in San Marcos, Calif., serving low-income families and veterans and providing commercial space for local businesses.
Developed by San Diego–based Affirmed Housing, Eastgate includes 42 studio, one-, two-, and three-bedroom units serving households earning between 50% and 60% of the area median income (AMI) and eight commercial spaces for local businesses. Eleven units are designated for veterans in need.
Built to LEED standards, the development has Energy Star features, ample windows for natural light, and plank flooring. Amenities include a clubhouse with a kitchen, tech stations, a tot lot, barbecue areas, and laundry facilities. In addition, residents have access to case management services and educational programming.
“We’re very proud of Eastgate and pleased it is 100% occupied,” said James Silverwood, president of Affirmed Housing. “Close to public transit and numerous amenities, Eastgate was possible because of tax-exempt private-activity bonds and the 4% [low-income housing] tax credit program.”
WNC provided $6.6 million in tax credit equity for the $19.2 million development. Additional financing was provided by Bellwether Enterprise, the city of San Marcos, and San Diego County.
Additional partners include architect DAHLIN Group, general contractor Wermers Construction, landscape designer Darsono Design Associates, and civil engineer Masson & Associates.
Affirmed Housing also celebrated the groundbreaking on another development serving veterans in San Diego at the end of November. The developer is transforming an existing Motel 6 into an 85-unit development for extremely low-income and homeless veterans earning 30% to 40% of the AMI.
As permanent supportive housing, Zephyr will contribute to two initiatives by the San Diego Housing Commission (SDHC) and the San Diego Mayor’s Office, Housing First, SDHC’s homelessness action plan, and Housing Our Heroes initiative.
The adaptive-reuse will include all new flooring and wall surfaces, updated bathroom, newly added kitchenettes, and accessibility upgrades.
Finance partners on the $27.7 million development include Raymond James Tax Credit Funds, SDHC, Bank of the West, and the state.
