Location:

At 201 Country Club Lane, Oceanside, California.

Project Description:

Country Club Apartments, located at 201 Country Club Lane in the City of Oceanside, is a 91 unit apartment complex built in the mid-1970’s. One apartment will be converted to a community center and a play space will be created in the courtyard. After rehabilitation, rents will be reduced and will be affordable to families earning 50% or below the area median income.

Background and Status:

The major impetus for the project came from the City of Oceanside in response to neighbor complaints about the rundown condition of the property and tenant-associated crime. Wakeland is in the process of purchasing the property and will complete a major rehabilitation inside the units, the exterior and the courtyard.

Property Management:

Financing Sources:

Financing for this project is a combination of tax exempt bonds and Federal Tax Credits along with a loan from the City of Oceanside. Construction financing is provided by Wells Fargo Bank and permanent financing is through California Community Reinvestment Corporation. Our tax credit equity partner is Red Capital.

Resident Services:

On-site Resident Services will be provided.