MASTER-PLANNED/INCLUSIONARY ZONING FINALIST
Project splits to include more housing
By Eric Wong
AFFORDABLE HOUSING FINANCE • AUGUST 2006
San Marcos, Calif.—When The San Elijo Hills Development Co., a master developer inexperienced with affordable housing, faced new inclusionary housing rules on its latest development, it turned to Bridge Housing Corp. for help.
Copper Creek Apartments
Developer: Bridge Housing Corp.
Number of units: 204; 202 are affordable
Unique feature: To address the size impediment in the state low-income housing tax credit allocation process, Bridge Housing broke the development into two phases.
That partnership resulted in one of the largest affordable housing projects here, with nearly a third of its units consisting of three bedrooms. Not only that, but Bridge Housing was able to offer very low rents on all the units for families with incomes ranging from up to 25 percent to no more than 60 percent of the area median income.
The project is the $35 million, 204-unit Copper Creek Apartments, one of the first affordable housing projects built under the city’s inclusionary housing policy adopted in 2000. Its one- to three-bedroom units range in size from 642 square feet to 1,023 square feet; 68 of the units are three-bedroom.