San Diego And Affordable Housing Partners Invest $55.2M To Preserve Low-Income Senior Apartments
Westminster Manor Apartment Homes, a 44-year-old, low-income senior housing project in the Banker’s Hill District of Downtown San Diego, has received a $13.2M makeover. The SD Housing Commission (SDHC) partnered with Chelsea Investment Corp, Westminster Manor of San Diego Inc and Senior Housing Corp to acquire and rehabilitate the facility, for a total investment of $55.2M.
“The units are great, and they fit the bill of the San Diego Housing Commission’s motto, which is ‘We’re About Peopl','” said SDHC president and CEO Richard C. Gentry (pictured speaking at the reopening event yesterday). He noted the 16-story residential building had not had substantial renovations since it was built in 1972. “This has turned out better than my prayers,” Westminster Manor SD board president emeritus Ron Wagar said, thanking SDHC for assisting with financing. SDHC authorized issuance of $27.3M in Multifamily Housing Revenue Bonds administered by the state, which covered about 49% of the total cost, and the city’s housing authority approved the bonds.
Improvements to the 150-unit complex, which is at 1730 Third Ave, include new showers, windows, glass doors and floors, as well as a larger community room and computer-equipped library. The roof and boiler were replaced, ventilation in hallways upgraded, and a new heating system, new balcony railings and new fire sprinklers were installed throughout the building.
