Tracy Senior Living Phase I
Tracy Senior Living Phase I
Tracy, CA
Type of Development
New Construction
Senior
Year Built
Pending
Development Profile
54 One-Bedroom Units
1 Two-Bedroom MGR Unit
Unit Size
TBD
Buildings
1
Summary
Tracy Senior Living to Begin Phase I
The Housing Authority County of San Joaquin (HACSJ) is planning its first phase of Tracy Senior Living. Phase I will see the demolition of 17 obsolete housing units originally built in 1952, which will be replaced with 55 modernized, energy-efficient units for seniors on approximately 1 acre located on West Street, between Fourth Street and Mt. Diablo Avenue. Smarter use of this land will allow HACSJ to meet the senior affordable housing need in Tracy. Seniors with incomes below 50% of Area Median Income (AMI) can qualify for these new homes. Rents will be subsidized by the Low-Income Public Housing (LIPH) program and Housing Choice Project-Based Vouchers.
Tracy Senior Living Phase I is anticipated to be completed mid-2026
Funding
To date, funds secured for the project include a capital contribution from HACSJ and contributions from the City of Tracy, including $4 million in Low and Moderate Income Housing Asset Funds (LMIHAF) and $682,895 in Home Investment Partnerships Program (HOME) funds. The project is also expected to include permanent financing and approximately $19.5 million worth of Low-Income Housing Tax Credits (LIHTC). Federal tax credits are awarded through a highly competitive process, which means that curating the necessary public support and assets to secure those credits is vital. As HACSJ Executive Director Peter W. Ragsdale explains, “Because we have the benefit of owning land and support from the city of Tracy, we can generally compete favorably.”
