![]() Housing Trust Fund Ventura County (Housing Trust Fund VC) announces the approval of an acquisition loan for $1,500,000 to support the development of Topa Vista Villas in Santa Paula. This loan was made possible by funds contributed by the CDFI Equitable Recovery Program ($757,000), and Community Impact Notes in the amounts of $259,000 from Montecito Bank & Trust, $243,251 from Community West Bank, and $240,749 in returned revenue, funds that have returned to the revolving loan fund. This loan will be combined with $3,000,000 in funding from Century Housing for a combined $4,500,000 to launch this multifamily affordable housing development. The Topa Vista Villas development will provide 111 units of affordable housing with over a third of the units being allocated for formerly unhoused individuals. The development is a collaboration between Homes & Hope, Cabrillo Economic Development Corporation (CEDC), and the Santa Paula Housing Authority (SPHA). Homes & Hope will serve as the Administrative General Partner, CEDC will oversee property management, and SPHA will provide support for long-term affordability. “Our mission is to create affordable housing solutions that address our community’s critical needs,” said Linda Braunschweiger, CEO of Housing Trust Fund VC. “The spirit of this development and its emphasis on providing affordable housing for those at risk of becoming or are currently unhoused speaks both to the hope that we provide for the community and the distinct need that we are addressing.” The Topa Vista Villas will provide 28 three-bedroom units, 28 two-bedroom units, and 55 one-bedroom units reserved for households earning at or below 60% of Area Median Income (AMI), along with a three-bedroom manager’s unit. Of these, 35% of units will be reserved for formerly unhoused households earning 30% AMI or less. This development directly addresses the housing and homelessness challenges identified in the 2024 Homeless Count and contributes to Santa Paula achieving 80% of its Very-Low Income Regional Housing Needs Allocation goals. The development is also designed to meet Tax Credit Allocation Committee’s Large Family standards. The development is to be constructed on three parcels of land located on West Harvard Blvd in Santa Paula. It will feature a four-story building, which offers 126 parking spaces, 5,900 square feet of community space, and family-friendly amenities such as a courtyard, BBQ area, and recreational spaces. Located adjacent to Teague Park, the development will be next to shopping and transit hubs, offering residents convenient access to public transportation, educational resources (including educational workshops, life skills coaching, substance abuse recovery, and coping skills development), and employment opportunities. Residents will have access to on-site support services, including case management, financial literacy workshops, a computer lab, wi-fi, and transportation subsidies for three years. Topa Vista Villas will be designed to meet GreenPoint Rated GOLD certification standards and will be fully electric. Construction is anticipated to begin in Summer 2026, with completion and occupancy slated for early 2028.
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April 2025
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