Courtyard Terrace Apartments
This 88-unit apartment complex was fully leased when it opened in May 2010. The $24.5 million project was developed in partnership with Chelsea Investment Corporation for low-income seniors and tenants with disabilities.
Courtyard Terraces was designed with several energy-saving features for which it has received LEED Silver Certification. They include solar panels that generate electricity and heat water, high-efficiency glass windows and patio doors, energy-saving appliances, low-flow plumbing and heavily insulated walls and ceilings.
The four-story development also features a community room, courtyard patio and sun deck and secured underground parking.
Units are restricted to renters with incomes at or below 50 percent of AMI. Courtyard Terraces will remain affordable for 55 years.
4321 52nd Street
San Diego, CA 92015
88 Units of Senior Housing
9% low-income housing tax credit equity provided by Boston Capital
Conventional loan provided by California Community Reinvestment Corporation
Residual receipts loan provided by San Diego Housing Commission