Politics & Government
Groundbreaking Set for Affordable Apartments in Murrieta
Located across from Murrieta City Hall, construction is set to begin on Phase II of Monte Vista Apartments.
Almost a year after it was approved by the city of Murrieta, a groundbreaking ceremony is scheduled tomorrow to mark the start of construction on a 40-unit affordable housing project that will adjoin an existing complex in historic downtown Murrieta.
Phase II of the will provide one-, two-, three- and four-bedroom units for qualifying low-income residents.
The new building will be on a, immediately adjacent to the existing 64-unit Monte Vista apartment complex completed in 2005.
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"Developing and managing Monte Vista II as a second phase of the Monte Vista Apartments will enable the city of Murrieta to produce additional affordable housing below the cost of a new stand-alone development," said James Silverwood, president of San Diego-based Affirmed Housing Group, the project developer. "We believe that this strategy is a win-win for all involved -- from residents to taxpayers."
Occupants of the new building will have access to all the amenities in the existing facility, including a pool, according to Silverwood.
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The estimated cost of the development is $10.5 million, according to Riverside County Economic Development Agency documents.
In December 2009, the Board of Supervisors authorized the appropriation of nearly $1 million in U.S. Housing and Urban Development block grant funds in support of the project.
The new apartments will be leased to families whose earnings do not exceed 80 percent of the county's median household income, which is around $57,000, according to EDA.
