East County News Service
October 15, 2010 (Santee) – On September 25th, the 48-unit Cedar Creek Apartments project welcomed its first residents. With a loan of $5.27 million from the Santee Community Development Commission, Chelsea Investment Corporation of Carlsbad completed construction of the apartment complex on Fanita, designed for low-income individuals and families.
As of mid-October, 49 women, 26 men, and 59 children now call Cedar Creek Apartments home. The tenants came primarily from El Cajon, San Diego, Santee and Lakeside, with some relocating from places as far away as Chula Vista, Menifee and Alpine.
The residents’ occupations include construction, taxi drivers, school employees, bank tellers, receptionists, cashiers, auto mechanics, UPS and Fed Ex workers, hair stylists, grocery workers, and employees in retail, doctor’s offices, restaurants, and a church.
Residents have access to an on-site community building with kitchen and entertainment facilities, a computer lab and exercise facilities. Outdoor amenities include a tot lot and barbeque grill. The project incorporates sustainable design features such as solar water heating, storm water treatment measures, and low-water-use landscaping. Resident services, including after school programs and computer training, will be provided by Pacific Southwest Community Development Corporation, a not-for-profit partner in the development team.
Chelsea Investment Corporation of Carlsbad constructed the $15 million Cedar Creek Apartments with the assistance of a low interest loan of $5.27 million from the Santee Community Development Commission. Additional funding was obtained through an allocation of affordable housing tax credits and a grant made possible by the American Recovery and Reinvestment Act. A construction loan was provided by US Bank, N.A.
“Santee is extremely pleased to realize its vision of a well-designed and well-managed affordable housing community on a formerly underutilized and neglected site” said Mayor Randy Voepel. “We look forward to working with Chelsea and Pacific Southwest to maintain a secure and supportive environment for working families.”