Housing Trust Fund Ventura County announces approval of a $1.1 million acquisition loan for Aspire Apartments in Oxnard supporting homeless and disabled individuals and families
Housing Trust Fund Ventura County (Housing Trust Fund VC) announces a $1,100,000 acquisition loan approved by its Board for funding to Many Mansions for the Aspire Apartments in Oxnard set to begin construction in 2024. The nonprofit had previously approved and funded a $250,000 pre-development loan back in January 2020. This brings the total funding from Housing Trust Fund VC to $1,350,000 in support of this development.
Aspire Apartments will consist of 56 one-bedroom units and 32 two-bedroom units, including a manager's unit, for a total of 88 apartments. Residents, comprised of extremely and very low-income families and individuals, and homeless and disabled individuals, will enjoy a community center, laundry facility, common area kitchenette, and recreational space. Uniquely, the second floor of the building will feature an outdoor community green space complete with BBQ and picnic area to help build an inclusive neighborly environment. Additionally, Oxnard Development Commission Successor Agency has partnered in this project to acquire and develop a pocket park that will be accessible to the public.
“This block in Downtown Oxnard has long been a mixture of unused buildings, half vacant lots, and an encampment of people who made homes from what they had,” commented Linda Braunschweiger, CEO of Housing Trust Fund Ventura County. “In a few years, the Aspire and Central Terrace apartments will bring 173 affordable housing apartments to this block, and the residents who struggled to make shelter in the empty lots will have the chance to find peace within a safe and comfortable home.” Braunschweiger refers to a neighboring affordable residence development, Central Terrace Apartments, which Housing Trust Fund VC has also supported with a $1.1 million pre-construction loan.
Housing Trust Fund Ventura County celebrates 10 years of lending in 2023, having committed or funded $26 million helping to create 1,120 affordable apartments and homes in Ventura County since 2013. The nonprofit invites the community to its Annual Compassion Campaign – a unique guest immersion. “Home Made: Fund It + Build It + Live It” invites guests to stroll through three powerful exhibits at the Museum of Ventura County that will showcase how safe, equitable, and affordable homes are funded, built, and lived in within Ventura County. This event is sure to sell-out as it did last year. Tickets available here.