Public-private partnership with the City of La Mesa, CalHFA, KeyBank and WNC made the 147-apartment community adjacent to a trolley station, several bus stops and 30 restaurants possible
LA MESA, Calif. – USA Properties Fund has started leasing 8181 Allison, an affordable apartment community in La Mesa’s Downtown Village that is adjacent to a trolley station and several bus stops – and in one of the most walkable neighborhoods in Southern California, with most daily errands possible without a vehicle.
The transit-oriented development – located at 8181 Allison Avenue, at the southeast corner of Allison and Date avenues – provides much-needed affordable housing to lower-income residents, from early-in-their career teachers and hardworking retail and service professionals to retirees living on a fixed income. Apartments should be completed for residents to move in during the next several weeks. You can learn more and start the application process at 8181allison.com.
The 147-apartment community is in La Mesa’s Downtown Village, which includes a large grocery store and pharmacy, more than 30 restaurants, City Hall, the city library and a weekly farmers’ market. 8181 Allison is also just south of Interstate 8, the major east-west freeway that connects to much of the San Diego region.
“The site has been transformed into a beautiful place to call home – right in the heart of La Mesa,” said La Mesa Mayor Mark Arapostathis. “Its proximity to downtown, transit, and everyday amenities makes this a valuable addition to our city.”
8181 Allison brings greatly needed affordable housing to the San Diego region, where only 16 affordable apartments are available for every 100 low-income households, the lowest figure in the nation, according to a new report from the National Low Income Housing Coalition.
8181 Allison
The critical shortage of affordable housing leads many low-income households to live in market-rate apartment communities and pay much higher rents or commute from outside the region, creating an ongoing financial hardship. Almost half of renters in the San Diego region are considered cost-burdened, spending at least 30% of their household income on rent, according to the Joint Center for Housing Studies of Harvard.
“8181 Allison is a cost-effective housing option that will help save residents time and money, with easy access to public transportation and significantly lower rent,” said Geoff Brown, President of USA Properties Fund. “The residents will also help boost business in the Downtown Village.”
Lower rent, more amenities
8181 Allison is accepting applications from households that earn 30% to 70% of the area’s median income for San Diego County – about $39,690 to $92,610 for a two-person household. Rents start at $858 for one-bedroom apartments and $1,010 for the two-bedroom units, with a maximum of $2,098 to $2,499, respectively, based on household income.
The four-story apartment building includes a community room with a kitchen, a fitness center, computer stations, on-site laundry, outdoor courtyards, a spa and sky deck. The 117-space parking includes EV-charging stations.
Apartments feature energy-efficient appliances and light fixtures, and low-flow faucets, showers and toilets.
Applicants can begin the application process and learn more about the apartment community at 8181allison.com.
Public-private partnership paves the way for the $67 million development
The $67 million development is possible thanks to a public-private partnership that includes the California Housing Finance Agency (CalHFA), the City of La Mesa, KeyBank and WNC.
“This project reflects the City of La Mesa’s ongoing commitment to creating more affordable housing opportunities for our residents,” said La Mesa City Manager Greg Humora. “Affordable housing is needed in our region and partnerships like this allow us to make meaningful progress, one project at a time, toward a thriving and livable community.”
8181 Allison is available to residents who earn a wider range of income levels, thanks to CalHFA’s Mixed-Income Program. USA Properties Fund competed with many other developers – and several dozen projects statewide — for the special financing.
“CalHFA is proud to provide financing through our Mixed-Income Program (MIP) for this much-needed affordable housing in San Diego County,” said CalHFA Chief Deputy Director Rebecca Franklin. “8181 Allison, which is providing families at a mix of low, very low and extremely low incomes with a safe place to live near transit and resources, is a shining example of the type of housing MIP is designed to support.”
In addition to affordable housing with a long list of amenities and an excellent location near public transportation, residents will also have access to social services, such as financial planning, job search assistance and stabilization.
“8181 Allison is in a prime location right in the center of the thriving La Mesa community,” said Jessica Captanis, Vice President of Originations West for WNC. “This development will offer tenants a solid foundation for success through its proximity to amenities and onsite classes including financial literacy, ESL, and health and nutritional education.”
8181 Allison is the second USA Properties Fund apartment community in La Mesa, joining Campina Court Apartments about 3 miles away. The company has six apartment communities in San Diego County, including the recently completed Vintage at Marja Acres Senior Apartments in Carlsbad.
The Roseville-based company is one of the fastest-growing and largest affordable developer-manager-owners in the nation, according to Affordable Housing Finance.
“8181 Allison is just the latest example of what is possible when public and private partners come together to meet the housing needs of a community,” said Brown of USA Properties. “It’s an apartment community that helps meet the housing needs of the region, helps control transportation costs for residents and allows them to live in a very vibrant, walkable neighborhood.”