Rancho
Santa Fe Village is
a mixed use 120 unit
affordable housing project
in the city of San Marcos,
CA. All units are restricted
to affordable rents,
and the community is equipped
with first rate amenities
for Active adults. The
residents enjoy the
sparkling pool located
in the center of the
property, and benefit
from the convenience
of on-site retail shops
that include groceries,
restaurants, a clothing
store, a salon and medical
care. Rancho
Santa Fe Road has come
alive with the addition
of this striking structure
and colorful center
for the community to
build around. Resourceful
and practical design and
energy efficient appliances
are some the ways that
Rancho Santa Fe Village
is environmentally responsible
and designed for the
twenty first century. The
11,000 square feet of
retail space on ground
level is complemented
by 72 2 bedrooms units
and 48 1 bedroom units
on three levels, all
with easy access to elevators
and the ample parking
available on the property. Construction
was completed on this
21 million dollar project
in the fall of 2005
and has since converted
to permanent financing
on its tax exempt bonds. Visit their website at www.rsfvillage.com.
Grandon
Village's
doors opened to Low income
tenants in 2004 and has
since become a wonderful
place for active seniors
to reside. Tax
exempt bonds issued
by the city of San
Marcos, coupled with
an allocation of LIHTC
have made this 22 million
dollar project possible. The
comfortable new community
and affordable rents
provide solution to
the rising need for
affordable housing
for the 55 and over
market. Residents
enjoy the pool, grounds,
and community room
addition
to easy access to the
San Marcos Senior Center
branch at Grandon Village. Enhanced
Affordable development
teamed up with the
City of San Marcos
to provide a location
on the property for
a senior center built
to serve all seniors
in the area. The
161 unit community
is a made up of a
mix of one and two
bedroom units in
five buildings spread
on 4 acres of land. Visit
their website at www.grandonvillage.com.
Las
Flores
Village,
a 100 unit new construction
development, is part of
Enhanced Affordable Development’s
Home ownership program. Financed
with tax exempt bonds
and 4% low income housing
tax credits, it was completed
in fall of 2006 and open
to low-income families
for rent. After
the initial 15 year credit
period, Low income residents
will have the option to
purchase their unit at
affordable prices. Las
Flores Village is an inclusionary
housing project in connection
with the construction
of 236 Market rate Single
family homes on an adjacent
lot. The
City of San Marcos and
combined with Enhanced
to produce Las Flores
Village as the Affordable
component of the site. The
3 bedrooms 2 bathroom
townhome style units range
from 962 to 1172 square
feet, all equipped with
a private two car garage
and washer dryer hookups. Currently
100% occupied with a waiting
list, these units have
no comparison in the San
Diego’s
North County in combination
of quality and affordable
rents. Visit their website at www.lasfloresvillage.com.
Las
Ventanas Villageis
a mixed use 80 unit affordable
housing project in the city
of Escondido. The
new construction project
features 78 3-bedroom
family units, 2 2-bedorom
units and 6500 square feet
of retail space on Escondido
Blvd. Las Venatnas
Village is filled with
state of the art amenities,
indoor parking for all tenants,
and is a model for premier
affordable housing.
After
securing
a
3
million
dollar
loan
from
the
city
of
Escondido
in
July
of
2006,
Enhanced
Affordable
development
carefully
oversaw
the
relocation
of
the
Bellview
Mobile
home
park. The
financing
for
this
project
is
coming
primarily
through
9%
federal
Low
income
Housing
tax
credits. Wachovia
has
partnered
with
Enhanced
in
this
venture
as
the
tax
credit
investor.
The
historic
preservation
of
the
Escondido
Auto
electric
center,
one
of
the
oldest
buildings
in
the
city
is
featured
as
a
highlight
of
the
project. All
units
in
the
project
are
rent
restricted
for
Low
income
tenants
and
affordable
rents
will
vary
from
30%
to
60%
of
AMI. Visit their website at www.lasventanasvillage.com
Austell Village Apartments is a 108 unit property located at 1899 Mulkey Road in Austell, Georgia. Situated within Cobb County, the property was originally constructed in 1990 and Enhanced Affordable Development concluded its acquisition of the property in August 2008. The project is set to complete a major interior and exterior rehabilitation of approximately $25,000 per unit in Spring 2009. Austell Village is comprised of 20 one-bedroom units, 68 two-bedroom units, and 20 three-bedroom units in 27 buildings spread out over 9 acres.
Austell Village was financed using Low Income Housing Tax Credits (LIHTC) and a $7 million bond issuance. Austell Village operates as an affordable property with 100% of the units rented at or below the IRC Section 42 rents. The property rents will target all households with incomes of up to 60% of area median income (AMI). The property offers a high-quality, affordable housing alternative for low-income families in the Austell area. Visit their website at
www.austellvillage.com
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