VC Star | Nonprofit commits funds for nearly 300 affordable units in Oxnard

Housing Trust Fund Ventura County committed $2 million in loans to help advance nearly 300 affordable apartments in Oxnard, supporting two developments designed to serve seniors, families, and farmworkers.

As reported by the Ventura County Star, the funding includes a $500,000 pre-development loan for Phase III of Vintage in Lockwood, which will add 232 affordable senior apartments for residents age 55 and older. HTFVC also provided a $1.5 million pre-development loan for Phase II of Cypress Place at Garden City, a 59-unit development in south Oxnard, including 43 homes designated for farmworker households. Both projects will serve residents earning between 30% and 70% of the area median income and will remain affordable for 55 years.

Together, these investments further HTFVC’s mission to expand housing opportunities for the nearly 24,000 low-income renter households in Ventura County lacking access to affordable homes.

Read the full VC Star article, HERE.