In Poway, a new affordable housing complex designed for seniors and veterans was unveiled in a grand opening ceremony on Thursday.
Poway Mayor Steve Vaus and councilmember Dave Grosch joined Chelsea Investment Corporation for an opening ceremony of the 44-unit complex located at 13098 Poway Road, on the northwest corner of Poway Road and Tarascan Avenue.
“I’m loving it. It’s wonderful. I love being in my own home again,” said Betsy Smith, a new resident at the complex named Apollo.
Smith shared with NBC 7 that she’s been either couch surfing or renting from a friend for the past six years.
“I didn’t really realize how lost I kind of felt…until I was able to move in here,” she said.
According to Jim Andersen, the Chief Financial Officer at Chelsea Investment Corporation, Apollo is already 83% occupied.
“Being able to cut the ribbon on a building that’s satisfying a need for 44 families…44 households…is incredibly gratifying,” said Andersen.
With Southern California housing prices skyrocketing and little relief in sight, Andersen says he hopes to see more projects like this.
“We need more of these throughout all of the cities of San Diego…but this is one small step forward,” he said.
Vaus agreed, he would like to see more affordable housing projects across the region.
“We have an obligation mandated by the state…but also I see it as a moral obligation to help those that are less fortunate,” said Vaus.
The county of San Diego provided $450,000 for the development through its Innovation Housing Trust Fund. The funds helped lower rent rates for tenants.
“I think anybody who could get in here…would be really happy,” added Smith.
It is expected that Apollo will be 100% full by the end of January. One-bedroom units range from $1,101 to $1,329, and two-bedroom units range from $1,240 to $1,592.