Wells Fargo Finances San Diego-Area Seniors Project

Wells Fargo’s Community Lending and Investment (CLI) group provided a total of $57.9 million in financing to Wakeland Housing & Development Corporation for the new construction of La Sabila, an affordable housing community located in the San Diego suburb of Vista. CLI provided a $30.5-million construction loan and a $27.4-million equity investment.

The project will consist of 85 residential units reserved for low-income seniors aged 55+. The property will feature on-site management, vehicular parking, community room with computer area and kitchen, laundry facilities, on-site resident services, courtyard/picnic area, and a conference room.

Timothy McCann, Terence Cordero and Jessica Gonzalez of CLI arranged the financing. Wakeland plans to launch the tenant interest list for La Sabila in fall 2025. It’s one of four affordable communities Wakeland has under development in the San Diego area.

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