Within four months since the opening of Vintage Aliso, a 202-unit complex for seniors near Aliso Viejo Parkway, the $43.7 million affordable-housing community is at full occupancy and now has a waiting list.
With one-bedroom units starting at $940 per month, the USA Properties Fund, Inc. complex can qualify a one-person family with an annual income of $36,550 to $43,860 — about half of the area's median income, according to a release..
“There's a huge need for affordable housing in Orange County,” said Geoff Brown, president of USA Properties Fund, Inc. “Market rent is double what (Vintage Aliso) is and (affordable housing) is a need.”
Some people were upset to learn they were overqualified to live in Vintage Aliso, Brown said, but having partnered the project with nonprofits such as Laguna Beach-based Foundation for Affordable Housing, the main goal was to create affordable housing for seniors.
“We have a housing crisis and we're trying to to do everything we can do to provide housing,” Brown said. USA Properties has four other complexes in Orange County, in Brea, Yorba Linda, San Clemente and Tustin.
Although the complex is not assisted living, the amenities at Vintage Aliso include a community center, pool, spa and fitness center. The complex also has an environment-friendly aspect to its design.
“It met a very high test for its energy efficiency, with solar, windows, water savings and low-flow toilets,” Brown said.
Vintage Aliso in October earned the SAGE Award for best 55+ affordable rental community by the Building Industry Association of Southern California.
Aliso Viejo Mayor Dave Harrington said he is pleased with the complex, which took about two years to construct.
“The city of Aliso Viejo is very happy with the addition of this project to our housing stock,” Harrington said in an email. “It fulfills a need for an underserved segment of our community and we are thankful to USA Properties for what they have provided.”
A second phase of the complex is already underway, which will create an additional 202 units next to the existing complex.
“We know firsthand of what a huge need there is for affordable housing,” Brown said, adding he thinks there will be no problem trying to fill the second complex.