Tracy Apartments: Phase I
Type of Development
Affordable housing for seniors / senior living
68 one-bedroom units
4 two-bedroom units
1 three-bedroom manager’s unit
Tracy Apartments to Begin Phase 1
The Housing Authority County of San Joaquin (HACSJ) is planning its first phase of the Tracy Apartments public housing development. Phase I will see the demolition of 17 obsolete housing units originally built in 1952, which will be replaced with 73 modernized, energy-efficient units for Seniors. The 1.94-acre parcel located on West Street, between Fourth Street and Mt. Diablo Avenue, will provide ample space for the two-bedroom, and one-bedroom units. Low-income Seniors with below 60% Area Median Income (AMI) levels can qualify for these homes. Rents will be subsidized by the Low-Income Public Housing (LIPH) program and Housing Choice Project-Based Vouchers.
An accumulation of financing will be needed to complete this project. So far, the City of Tracy HOME funds, City of Tracy redevelopment funds, Low-Income Housing Tax Credits (LIHTC), and HACSJ contribution have secured funding. An additional $4 million will be received from the city of Tracy’s Low and Moderate Income Housing Asset Fund. The project is also expected to include roughly $19.5 million worth of federal tax credits and further HACSJ funding.
Federal tax credits are awarded through a competitive process, which means that curating the necessary public support and assets to secure those credits is vital. “Because we have the benefit of owning land and support from the city of Tracy, we can generally compete favorably,” said HACSJ Executive Director Peter W. Ragsdale. The smarter land use will allow HACSJ to meet the Senior affordable housing need in Tracy. The new Senior Tracy Apartments will be ready to welcome residents by winter 2024.