Project Type: Inclusionary
Project Cost: $27.8 million
Project Location: Chula Vista, CA
Client: Shea Homes and Brookfield Homes
No. Units: 92
CIC Role: Developer
The Landings project was required by the City of Chula Vista to be developed as the affordable element of an upscale master planned community and consisted entirely of three bedroom townhouses to be sold to low and moderate income families. However, the collapse of the housing market and lack of mortgage financing made the project infeasible, so the home builder requested Chelsea to develop the project as an affordable rental project.
Chelsea worked with the home builder and City to convert the project to an affordable rental project. The City recognized the infeasibility of an affordable project. Chelsea worked with City staff to revise the applicable regulatory agreements to permit development of a for-rent project. The design of the project was revised to create leasing and management offices and community and recreational facilities suitable for the expected tenant population. To achieve accessibility requirements needed for a rental project, six units were redesigned to include individual elevators. The location of the project, spaciousness and attached two car garages for each unit made the project an outstanding affordable rental community.