Cabrillo Economic Development Corporation awarded $13.8m towards the development of Brisa Encina

SANTA BARBARA, Calif. - July 6, 2023 - PRLog -- The Cabrillo Economic Development Corporation (CEDC) announced that it has been awarded $13.8 million from newly-awarded Multifamily Finance Super NOFA grant from the State of California Department of Housing and Community Development.

Approximately 58 communities across California were awarded more than $825.5 million as part of a new funding approval process that eliminates the need for a developer to submit multiple applications. This includes roughly $700 million in funds for multifamily development and $125 million for infill development.

To continue expanding the state's affordable housing stock and increase capacity for additional climate-smart infill housing, Governor Gavin Newsom announced the funding awards under a new streamlined application process aimed at accelerating the development of new projects while saving time and money at the local level.

According to California Housing Partnership's Santa Barbara County 2023 Affordable Housing Needs Report - "20,338 low-income renter households in Santa Barbara County do not have access to an affordable home. And Renters in Santa Barbara County need to earn $47.06 per hour - 3 times the state minimum wage - to afford the average monthly asking rent of $2,447." However the report also shows State and federal funding for housing production and preservation in Santa Barbara County is $201 million, a 79% increase from the year prior.

The grant funding awarded is designated for CEDC's new Brisa Encina property, a 49-unit affordable housing property located at 1498 Burton Mesa Boulevard, in the unincorporated community of Mission Hills. The 49 units contain a mix of unit types: 25 studio apartments, 12 one-bedroom apartments and 12 two-bedroom apartments.

The development will include 12 units for formerly homeless veterans utilizing the federal Veterans Administration Supportive Housing program and two other units for veterans not participating in VASH.  The development will also include 13 units for households with members experiencing mental illness.

The entire community design is based on the Mission style architecture similar to the nearby La Purisima State Park Mission and grounds.  Within that style, solar photovoltaic panels are included on the roof to provide for 100% of the electricity to be used at the property.  There will be no natural gas provided to or used at the property, and the building will operate as "carbon free," including solar powered electric vehicle charging stations for use of the residents.

This is a joint development with Firebird Properties, LLC and Thompson Housing, LLC, who currently own the property and have processed the development approvals with Santa Barbara County. CEDC will acquire the site from Firebird Properties, LLC at the closing of construction financing, when grading and construction is ready to start on the project. From that point forward the development will be owned and managed by CEDC.