Housing Authority Opens Affordable Apartments

ISLA VISTA, CA - Just steps away from where 55 low-income families were evicted from their apartments last year to make way for upscale student housing, the Housing Authority of the County of Santa Barbara reopened its newly renovated Parkview Apartments at 6682 and 6688 Picasso Road in Isla Vista. "We are proud to complete this acquisition and extensive rehabilitation that will forever preserve 20 units of affordable rental housing in Isla Vista," said HACSB Executive Director Frederick Lamont, who is also the CEO of HACSB affiliate Surf Development Company.

HACSB acquired the property in June through the use of funds from the Isla Vista Redevelopment Agency affordable housing fund.

Permanent financing for the affordable units, 12 two-bedroom and eight one-bedroom, will come from the IV Redevelopment Agency, federal low-income housing tax credit equity, tax-exempt bonds and HACSB. Surf will own the two buildings, and HACSB will manage them.

The renovation required the existing tenants to move out for the duration of the project, though they were given relocation allowances and some were given Section 8 Housing Choice Vouchers.

According to a news release from HACSB, several tenants have chosen to move back into the property. Families will pay $690 to $836 a month for one-bedroom units and $830 to $1,005 for two-bedroom units.