SIERRA VISTA Phase I
Sierra Vista: Phase I
Stockton, CA
Type of Development
Affordable multifamily
Year Built
2020
Development Profile
25 one-bedroom units
36 two-bedroom units
39 three-bedroom units
15 four-bedroom units
Unit Size
543 – 1,368 sq. ft.
Total Building
22 Buildings
Summary
HACSJ Redevelops HACSJ’s Oldest Public Housing Development
Delta Community Development Corporation, a 501c3 nonprofit public benefit corporation (formerly known as Villa Real, Inc.), an affiliate of the Housing Authority of the County of San Joaquin (HACSJ), and Central California Housing Corporation (CCHC), partnered to redevelop a large multifamily apartment complex, known as Sierra Vista I Apartments. This project took place on the site of HACSJ’s oldest multi-family public housing development, Sierra Vista Homes, located south of. Dr. Martin Luther King Jr. Blvd. (formerly Charter Way).
The targeted population primarily consisted of residents from the City of Stockton and County of San Joaquin who are income qualified. All of the units are rent-restricted to individuals and families with incomes ranging from 30% to 50% of the area’s median income. There are 82 Project-Based Vouchers (PBVs), and 32 Public Housing (ACC) units are layered with the Low-Income Housing Tax Credits (LIHTCs).
Accessibility and Features
Construction
The LIHTC award, along with capital contributions from HACSJ, provided for the first phase, the construction of 115 one-bedroom to four-bedroom modern, energy-efficient units (including solar). Square footages range from approximately 543 sq. ft. to 1,368 sq. ft. These units replaced 63 units and included the demolition of an additional 27 barrack-style units. In 2015 HACSJ previously demolished 36 units in 14 buildings. The relocation was previously facilitated for the 36 units, and a relocation plan has been prepared for the additional 27 units.
The development also included a community building in addition to recreational open space. A network of walkways will connect the site along with playfield areas and tot lots for the residents. The community building is proposed to include a fully furnished multipurpose room, a kitchen, restroom facilities, manager and social service offices, a large activity/lounge area, and a maintenance shop. There will also be a swimming pool and a laundry facility for the residents.
The buildings were designed as two-story structures with stucco serving as the exterior finishing. All aspects of the buildings and their designs complied with quality construction standards to ensure longevity and safety. The project also provided a 40% offset of tenants’ electricity and 100% of the common area electricity through the incorporation of a photovoltaic system.
Finacing
The redevelopment came after HACSJ received $24.3 million in highly competitive 9% Low-income Housing Tax Credits (LIHTC) as part of the financing structure for its first phase. The project utilized both public housing subsidies and Housing Choice Project-Based Vouchers to maintain affordability.
“This 34 million dollar project was the first of a multi-phase redevelopment of Sierra Vista Homes that protect over 1M dollars of annual rental subsidy that provides critical rental assistance to what would otherwise be severely rent-burdened families,” said Housing Authority Executive Director Peter W. Ragsdale.
Our financing application for Low-Income Housing Tax Credits (LIHTC) to the California Tax Credit Allocation Committee (CTCAC) was made on March 1, 2017, and construction was completed in March 2020.
The total development costs were about $41 million and with over $22 million in tax credit equity (through the sale of LIHTCs). HACSJ contributed over $5 million between loan funds and the land value, and the remainder of the funds came from mortgages associated with the development.
