Courtyard Terrace Apartments
Courtyard Terraces, located at 4321 52nd Street, provides 88 apartments. The $24.5 million project was developed in partnership with Chelsea Investment Corporation for low-income seniors and residents 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/computer room, courtyard patio and sun deck and secured underground parking.
Units are restricted to renters with incomes at or below 60% AMI. Courtyard Terraces will remain affordable for 55 years.
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