SAN YSIDRO, Calif. (KGTV) -- A new apartment complex in San Ysidro promises to offer more than 100 affordable apartments to residents.
The building, called Paseo La Paz, was made possible in part due to a $2.3 million grant from the City of San Diego and will offer 137 affordable units. The complex targets families with incomes from 50 to 60 percent of San Diego’s median income – approximately $60,000 per year for a family of four.
Rents will range from $900 per month for a one-bedroom apartment to $1,200 for a three-bedroom unit. Rents will remain affordable for the next 55 years as part of the agreement that secured the grant.
“This project is the perfect example of how the City can help serve its residents with affordable options for housing,” said Christina Bibler, Director of the City of San Diego’s Economic Development Department.
In addition to the multi-million dollar grant, an additional $7 million in funding was provided by the city’s Affordable Housing Fund.
“With the City’s assistance, this apartment complex can help ease the burdens for those looking for a place to call home," Bibler continued.
The complex features a 2,000-square-foot community space, computer lab and outdoor recreation space and is located near several schools and a public park.
A grand opening event was held Thursday for the project.