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Ground broken in three cities for low-income apartments

May 05, 2002|By AARON CLAVERIE

Staff Writer

CALEXICO — At three separate ceremonies across the Imperial Valley on Friday, including the last ceremony of the day in Calexico, Jim Schmid, president of Solano Beach-based Chelsea Investment Corp., and area dignitaries broke ground where 80-unit apartment complexes will be built.

Prospective tenants must meet low-income eligibility requirements to rent one of the one-, two- or three-bedroom apartments.

The three complexes all will be finished by December, Schmid said.

The air-conditioned apartments will include amenities such as computer rooms and laundry facilities, he said.

The complex in Calexico will be called the Calexico Family Apartments. It will be built at the northwest corner of Meadows Road and Meadows Drive next to Chelsea's recently opened senior apartment complex, Villa de las Flores.

The complex in Imperial will be called Villa Lara Apartments and will be at 2385 Myrtle Road.

The complex in Brawley is called Brawley Family Apartments and will be built at the southwest corner of Best Road and C Street.

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Rents will range from $294 to $509 per month.

The rental rates will be kept low because construction of the apartments was made possible by tax-credit allocations from the California Tax Credit Allocation Committee and help from entities such as the city of Calexico.

The City Council here recently gave Chelsea a $400,000 loan to help offset the city's Mello-Roos taxes.

Schmid said the three projects will cost roughly $22 million to build, with most of that money coming from the potential sales of tax credits.

Financial partners at Bank of America and Valley Independent Bank loaned money to cover construction costs.

There will be no problem filling the apartments once they are finished, Schmid said.

"They'll be essentially pre-leased. The large-family market is the largest and we'll be right where the market is," he said.

Those wishing to get on the waiting list may call 768-8600.

>> Staff Writer Aaron Claverie can be reached at 337-3419 or claverie7@hotmail.com

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