Affordable Senior Housing Project Breaks Ground in San Diego
Nonprofit developer National CORE has partnered with United Methodist Church, to build 73 supportive apartment homes in the Nestor neighborhood of San Diego. The project, which breaks ground on July 25th, will transform an acre of the church’s underutilized land into studio apartments for 55+ seniors who were previously experiencing homelessness.
Nestor Senior Village will be an all-electric community, anticipated to achieve LEED-for-Homes Gold level certification. The development will include a community room and private offices for case management, and is within walking distance to grocery stores, pharmacies, a park, public transportation and the Nestor Community Health Center.
In order to keep the project affordable, National CORE utilized significant local funding commitments from the San Diego Housing Commission, a loan from the County of San Diego through their No Place Like Home program, tax credit equity through Hudson Housing Capital, construction and permanent loans from Chase, and grant funds provide by the City of San Diego from the U.S. Department of Housing and Urban Development.
Mark comes to ConnectCRE with an extensive background as a business and news reporter in San Francisco radio, as well as 35 years as a traffic reporter on several stations including KGO, KNBR, KCBS and KFRC. As a business reporter, Mark covered the tech world in Silicon Valley where he became familiar with real estate transactions in the hot Bay Area marketplace. He attended San Jose State University with a BA in Radio and TV Broadcasting and currently resides in the Lake Tahoe area where he gets to frequently enjoy all of his favorite activities: Golfing, Fishing, Hiking and Skiing.