San Diego Business Journal

Ground Broken on Apartment Complex for Disabled Residents

By Mike Allen Friday, August 15, 2014

Independence Point, a housing complex geared to families with a member who has developmental disabilities, broke ground in Lincoln Park.

The $13.5 million affordable apartment complex with 32 units is aimed to provide housing to low and very low income families. At least 25 of the units are set aside for households with at least one member who has a developmental disability, such as autism, cerebral palsy or epilepsy.

The project was built with $8 million in bond financing approved by the San Diego City Council, and with $5 million in equity provided by U.S. Community Development Corp., a subsidiary of Minneapolis-based U.S. Bank, raised from low-income housing tax credits.

Developer Chelsea Investment Corp. was joined by the Southern California Housing Collaborative, a nonprofit group that locates and secures housing for low-income people with developmental disabilities, and the San Diego Regional Center, which contracts with the state to provide supportive services to these people.

The complex consists of 30 three-bedroom and two four-bedroom units. It is the first affordable apartment house designated for developmentally disabled residents in the county.

“Finding safe, affordable housing that’s also accessible is a tall order, especially for families who have a member with a developmental disability,” said Steve Stuckey, U.S. Bank market president. “Independence Point meets those needs and relives some of the stress these families feel.”

Besides the apartments, the complex features a clubhouse, a computer center and a courtyard barbeque area. Rents will range from $553 to $1,222 depending on the family’s income.