Company Milestones

2018

Chelsea completes its 10,000th affordable apartment.

2017

Chelsea completes its 100th affordable community; Villa Storia at Mission Lane in Oceanside, CA.

2016

Jim receives San Diego's Most Influential Business Leaders Award.

2015

Chelsea and Emmerson are awarded San Diego Builder of the Year by the BIA. Chelsea is the 16th largest affordable housing developer in the country.

2014

Chelsea completes its first Riverside County project:  Cesar Chavez Villas in Coachella.
Border Communities Capital Company, the Company’s New Markets Tax Credit affiliate, completes $100 million of NMTC financing.

2013

Chelsea completes Park Place, its first affordable housing project in New Mexico.

2012

Charles Schmid is named President of Emmerson Construction, Inc.

2011

Cheri Hoffman becomes President of Chelsea Investment Corporation. 
Chelsea completes CityPlace, its first Kern County project, located in Bakersfield.

2007

Groundbreaking kicks off construction for 16th and Market, CIC’s first high rise affordable project in a joint venture with St. Vincent De Paul.

2006

Affordable housing units now total more than 4200 units at a cost of $650 million.

2005

Construction begins on 204 unit Fairbanks Ridge complex, developed at a cost of $50 million.

2003

Border Communities Capital Company, an affiliate of CIC, receives an allocation of $50 million of New Markets Tax Credits. 

2001

Completion of first inclusionary affordable housing project — 440 unit Teresina Apartments in Chula Vista, California. 

1996

First Special Needs affordable housing project is financed on behalf of St. Vincent de Paul — 350 unit Paul Mirable Center in San Diego, California. 

1994

First historic rehabilitation completed — Hotel San Carlos in Yuma, Arizona. 

1992

First affordable housing project in partnership with the Imperial Valley Housing Authority completed — Hatfield Homes in Brawley, California. 

1986

The company is restructured and incorporated as Chelsea Investment Corporation.

1984

Chelsea Properties is founded to develop garden apartments and office buildings; the company is named after Jim and Lynn Schmid's oldest daughter.