Village Senior Apartments One of 39 Developments to Receive 2022 Affordable Housing Program Funding to Help Lower-Income Families in California Have an Affordable Place to Call Home
(VENTURA COUNTY, Calif.) – July 27, 2022 –The Cabrillo Economic Development Corporation (CEDC) announced today that it has received an Affordable Housing Program (AHP) grant from FHLBank San Francisco. The $730K grant will help fund Village Senior Apartments in Buellton, CA, and contribute to the development of 50 homes for low-income seniors ages 55 and older, including 13 affordable homes for previously unhoused seniors and 11 for seniors in need of home-based healthcare. The gated community will offer residents a social services delivery area, recreation room, a central courtyard for outdoor activities, and a community garden.
“CEDC has a bright future ahead of itself. We are leading the way in affordable housing for Ventura and Santa Barbara counties,” said Aiza Galdo, CEDC Board of Directors President. “Quality, safe, affordable housing and the way it transforms lives is what drives us here at Cabrillo to ensure we are constantly working towards providing more housing options in our community. We have two great projects that are currently in the pre-development stages. One of those is Village Senior Apartments located in Buellton’s beautiful wine country, providing senior housing mixed with veteran homeless housing.”
The CEDC mixed housing development in Buellton aligns with FHLBank San Francisco’s 2022 Affordable Housing grant mission to support “the development, preservation, and rehabilitation of single-family and multifamily housing that serves people in need, including the chronically unhoused, families, seniors, veterans, at-risk youth, people living with disabilities, mental health challenges, and those overcoming substance abuse.”
“Housing costs in California continue to escalate, and more specifically in Ventura and Santa Barbara Counties, housing costs have skyrocketed. 74% of our extremely low-income households are paying more than half of their income for housing,” said Margarita H. de Escontrias, Chief Executive Officer at Cabrillo EDC. “By working together with public jurisdictions, partners, and organizations like FHLBank San Francisco who provide these generous grants, help make affordable housing a reality for many of our families and workers throughout our communities. “
About Cabrillo Economic Development Corporation
The Cabrillo Economic Development Corporation has been making dreams come true, one home at a time, since 1981. Proud to be the largest developer of affordable homes in Ventura County, Cabrillo’s success is the result of decades of passion, dedication and vision. With a mission of providing comprehensive housing services and community economic development activities, Cabrillo facilitates self-sufficiency for individuals and families who are most lacking in opportunity. At Cabrillo, home is more than a place to live – it is the cornerstone of the community’s economic, environmental and social wellbeing.
For more information, please visit cabrilloedc.org and the FHLBank San Francisco Affordable Housing Program (AHP) Awarded Project webpage