Casa Colina Del Sol
This 75-unit development for low-income seniors and persons with disabilities was acquired by HDP from its original owner in 2003, when it was at risk of being converted into a higher-rent development. The acquisition will keep the apartments affordable for 55 years.
A $646,000 rehabilitation, completed in December 2004, included energy-efficient windows and doors and a modernized community room and kitchen.
The three-story complex also features a community room and lushly landscaped grounds. A Resident Services Coordinator was placed on the site in 2005.
Units at Casa Colina del Sol are restricted to renters with incomes at or below 50 percent of AMI. .
9 percent low-income housing tax credit equity provided by Centerline Capital
Conventional loan provided by Chase
Residual receipts loan provided by Federal Home Loan Bank
Residual receipts loan provided by San Diego Housing Commission
Residual receipts loan provided by Southeast Economic Development Corporation.