Fairbanks Ridge

Project Type: Inclusionary

Project Cost: $58.2 million

Project Location: San Diego, CA

Client: Black Mountain Ranch

No. Units: 204

CIC Role: Developer

Project Description
Fairbanks Ridge is a 204 unit affordable apartment project which includes a swimming pool, community center, basketball court and tot lots. It was developed as the affordable housing component of the affluent Black Mountain Ranch Community and is the largest project developed by the Company.

Project Problem
The problem presented by Fairbanks Ridge was to integrate a very large and highly visible affordable housing project into the upscale master planned community of Black Mountain Ranch.

Chelsea’s Strategy
The Company requested Hedenkamp & Associates to create a project that satisfied the design guidelines of Black Mountain Ranch and set a new standard for design for an affordable housing development. Exterior design elements and landscaping assure the architectural integration of the project with its neighborhood. The on-site amenities and features of the community center, together with the programs offered for the residents, provide tenants with rich opportunities for self help and self improvement activities. In addition, the Company developed extensive preconstruction cost data prior to commencement of construction.

Chelsea’s Solution
Despite extreme cost volatility prior to and during construction of the project, it was completed ahead of schedule and below budget. Fairbanks Ridge is the Company’s signature affordable housing project.