The California Department of Housing & Community Development issued an award notice of over $5 MM to Many Mansions for Ventura County’s first Veterans’ housing development to be built in Oxnard, CA. The Veterans’ Homeless Housing Prevention Program funding is a competitive statewide funding process in which proposed developments must meet strict requirements to ensure the highest quality, service-enriched housing to meet the needs of our veteran population. Ventura County projects compete with developments from 37 other counties throughout the State.
The project also received full funding from the State’s Tax Credit Allocation Committee on July 19th. The City of Oxnard has committed over $900,000 and 39 project-based vouchers to the project. The County of Ventura also awarded us over $1 million in HOME funds. Construction will begin in February 2018.
The property is designed by local architect Mark DiCecco (Moorpark, CA) and will contain 40 units:
- One-bedrooms will rent for $504 per month and will be 743-835 square feet;
- Two bedroom units rent range from $604 to $1279 and will be 1,033 square feet;
- Three bedroom units rent range from $1213 to $1473 and will be 1,233 square feet;
- All units will be subsidized by project-based vouchers and therefore residents will only pay 30% of their income for rent and must first be pulled from the City of Oxnard Housing Authority’s wait list;
- The property will also feature on-site social services to be held in the community room, a community BBQ area, a tot-lot and other community oriented features to encourage social gathering among residents.
- A joint venture with LA Family Housing