Monte Vista Adds New Affordable Units With Phase II

MURRIETA, CA - On Thursday, February 9, 2012 at 10:00 am, Affirmed Housing Group will host a groundbreaking ceremony for phase II of Monte Vista Apartments.  The ceremony will be held at 41411 Juniper St., Murrieta, CA 92562 (parking available in the City Hall lot across the street).  Monte Vista II will feature affordable and sustainable apartment homes in historic downtown Murrieta.

Monte Vista II will add 40 homes, ranging from one to four bedrooms, to the existing 64-unit Monte Vista Apartments.  The existing apartment homes are located immediately north of the project site and were completed by Affirmed Housing Group in 2005.  Monte Vista II will sit on 2.02 acres at the northeast corner of Jefferson Avenue and Juniper Street, and will share amenities with the existing Monte Vista Apartments.  Residents of Monte Vista II will enjoy the existing pool and common facilities at Monte Vista Apartments, and a second tot lot and laundry facility will be built with the new development and available to residents of both projects.  Carport roof structures will be utilized for solar photovoltaic and hot water panels that will serve common facilities. The architecture of Monte Vista II is designed to blend seamlessly with the existing development.

James Silverwood, President of Affirmed Housing Group, states, "Developing and managing Monte Vista II as a second phase of the Monte Vista Apartments will enable the City of Murrieta to produce additional affordable housing below the cost of a new stand-alone development.  We believe that this strategy is a win-win for all involved -- from residents to tax-payers."

Headquartered in San Diego, Affirmed Housing Group is dedicated to improving and sustaining the viability of California through the development of affordable housing.  The company aims at enhancing communities and our environment by building dynamic, professionally-managed, high-quality green multifamily housing.  Areas of expertise include site selection, engineering, architecture, construction, relocation, and marketing.  Affirmed also has extensive knowledge in public finance, low-income housing tax credit acquisition, and tax-exempt bond financing.