CARLSBAD, Calif. (KGTV) - Rent in San Diego County continues to get more expensive, especially along the coast, but one upcoming complex could add apartments in a prime location at a fraction of the cost.
The Carlsbad Village Lofts could serve as the gateway to trendy downtown Carlsbad, blocks from the beach. It would cover what's now a dirt lot and a Denny's just west of Interstate 5 on Carlsbad Village Drive. The area's median rent is about $2,200 a month, according to MarketPointe Realty Advisors -- a price that is out of reach for many families.
The Carlsbad City Council approved the Carlsbad Village Lofts earlier this year, and on Tuesday, they could finalize a deal that would allow the complex to be larger, provided it offers affordable housing. The mixed-use complex would have 106 units, 16 of which reserved for families at 60 percent median income.
That means a family of four earning about $54,540 could qualify and could set them on a path to homeownership.
"Even with affordable housing, it's still pretty stiff, but I think wages are starting to come up," said longtime Carlsbad resident and mortgage broker John Prietto. "You live in an affordable housing unit, you should be saving money."
Developer Evan Gerber said a few engineering tasks have to be completed before the company breaks ground.
A Carlsbad spokeswoman said Carlsbad's Housing Services Department can assist in tracking affordable opportunities.
Families can also call the department at 760-434-2810.
