Chelsea Investment Debuts $47.6M Alpha Square Apartments

Carlsbad-based Chelsea Investment Corp. recently unveiled Alpha Square, a $47.6-million apartment community featuring 201 affordable units in San Diego’s East Village.

Conveniently close to public transit, Alpha Square is intended for low-income residents and formerly homeless residents, including military veterans.

Tenant amenities include a computer lab, laundry facilities and a commercial kitchen. Alpha Square also has an outdoor courtyard, a rooftop deck and terrace.

Alpha Project for the Homeless worked with Chelsea on the development, along with the San Diego Housing Commission and the City of San Diego, which pitched in $17.6-million construction loan for Alpha Square.