Chelsea Investment Corp. Breaks Ground for 64 Affordable Homes in Carlsbad

SAN DIEGO (Dec. 8, 2016) – Building on its track record as the builder of 352 affordable homes in three projects in the city of Carlsbad, Chelsea Investment Corp. just broke ground on its fourth: Juniper at The Preserve, where 64 affordable garden apartments are now under construction off state Route 78.

“Thank you to Chelsea for this fourth project,” said Carlsbad City Councilman Keith Blackburn, speaking at a recent groundbreaking celebration. “This shows that you have faith in our city.”

Chelsea’s Juniper at the Preserve will fulfill the inclusionary housing requirement for The Preserve’s master-planned developer, Cornerstone Communities of San Diego. The 64 affordable walk-up apartments will be spread across a heavily landscaped site that includes multiple tot lots, barbecue and picnic area, bike racks, and a community room.    

Designed by San Diego architect McKinley & Associates, the project features 12 one-bedroom, 32 two-bedroom and 20 three-bedroom apartments in five two- and three-story buildings. Carports will be fitted with solar panels to provide power for community amenities.

Rents at Juniper at The Preserve are 50 to 60 percent of Area Median Income (AMI), ranging from high $700s to low $1300s. Leasing is expected to begin in October 2017. For more information, visit

“This project is very important, and the city of Carlsbad has done a good job seeing to it that affordable housing gets built in their projects,” said Chelsea Project Manager Walter Heiberg, 

”The goal at Juniper at The Preserve is to create a walkable community, where children can play outside and families can connect to an extensive trail and bike system.”

Juniper at The Preserve is located within a master plan approved by the city of Carlsbad in 2013 and formerly known as Quarry Creek. It is an important segment of what is called the Waterfall to Waves Trail, which will ultimately connect to the coast just three miles away.

“The trail system will be an important amenity for our residents,” said Heiberg, who noted that when completed, this project will bring the total of affordable homes built by Chelsea in Carlsbad to 416.

Other affordable housing neighborhoods completed by Chelsea in the last 30 days include the 52-unit Trolley Park Terrace in Southeast San Diego, and the 28-unit Torrey Vale apartment complex on the northern perimeter of the City of San Diego.